Motor Fuel Group is to acquire 337 Morrisons petrol forecourts – including fuel, convenience retail kiosk and ancillary services -and more than 400 associated sites across the UK for Ultra-Rapid EV charging development.
The proposed £2.5bn deal forms a new strategic partnership between the two companies. As part of the deal Morrisons will take a minority stake of approximately 20% in MFG, and enter into commercial and supply agreements with MFG.
The transaction will see:
- Significant investment to expand and improve the convenience retail proposition, with a focus on enhancing the retail environment, food-to-go, and valeting facilities to customers.
- Morrisons continuing to supply food and groceries across the 337 Morrisons petrol forecourts with the opportunity to expand its supply into the MFG estate over the medium term through its wholesale operation.
- MFG will invest and install Ultra-Rapid EV charging infrastructure across the sites acquired by MFG, significantly expanding MFG’s market leading nationwide EV network.
Rami Baitiéh, Chief Executive of Morrisons, said: “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. It means Morrisons customers will continue to see a competitive and attractive forecourt offering, including expanded access to EV charging, while also benefitting from greater focus on investment in Morrisons’ core food business.”
William Bannister, Chief Executive of MFG, added: “This strategic acquisition, and the resulting partnership with the highly respected Morrisons brand, is the next major growth investment for MFG. It is anchored in the potential for us to accelerate the roll-out of Ultra-Rapid EV charging infrastructure across the UK while also giving customers a first-class retail offer.
“We will be there to serve and power our customers, regardless of what car they drive in the years and decades ahead as we play a key role in keeping the country and its economy moving.”
