Morrisons has partnered with Motor Fuel Group (MFG) in a £2.5bn acquisition agreement as the supermarket realigns its priorities towards its core food business.
The new transaction will see the petrol giant purchase 337 Morrisons petrol forecourts (including fuel, convenience retail kiosks and ancillary services) and more than 400 associated sites across the UK, for Ultra-Rapid electric vehicle (“EV”) charging development.
In turn, the grocer will now own a 20% minority stake in MFG, while still supplying groceries across the 337 petrol forecourts – all of which will retain Morrisons’ brand onsite.
Read full story at Morrisons partners with MFG in £2.5bn forecourt acquisition (grocerygazette.co.uk)
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