Independent petrol station forecourt operator Motor Fuel Group (MFG) and supermarket chain Morrisons have announced a new strategic partnership in the UK.
MFG will purchase 337 Morrisons petrol forecourts, including fuel, convenience retail kiosks and ancillary services, in a £2.5bn ($3.2bn) deal.
The deal includes sites for potential ultra-rapid electric vehicle (EV) charging.
Morrisons will take a 20% stake in MFG and enter commercial and supply agreements.
The supermarket chain will continue to supply food and groceries across the 337 existing Morrisons petrol forecourts, with plans to expand the supply service to the MFG network.
The transaction will benefit both businesses, build significant synergies across fuel retail and ancillary services and offer scale advantages and opportunities for further growth.
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It aims to benefit UK motorists and shoppers, while also supporting the UK’s 2035 deadline for ending new diesel and petrol car sales and its 2050 net zero target.
Morrisons CEO Rami Baitiéh stated: “As the needs of the customer continue to evolve, Morrisons and MFG’s partnership will see us combine our respective expertise and resources to deliver the best value for customers at the pump, in our convenience stores and in our supermarkets.
“We are delighted to have such a strong partner in MFG and look forward to the opportunities a combined MFG and Morrisons forecourt offering will provide.”
The deal is expected to make MFG the second-largest convenience store operator in the UK.
The company will become one of the UK’s leading ultra-rapid EV charge point operators, with more than 1,300 sites planned.
The acquisition comes after Clayton, Dubilier & Rice, the owner of MFG, won an auction to purchase Morrisons in October 2021.