Jan 30, 2024
Morrisons agrees to sell forecourts arm in £2.5bn tie-up
Morrisons supermarket has agreed a £2.5bn deal to sell its 337 petrol forecourts to Motor Fuel Group as part of a new tie-up. The supermarket said the proposed deal would also see it take a minority stake of about 20% in MFG. As part of the agreement, MFG is set to take on the Morrisons forecourts - including the fuel and retail operations - as well as more than 400 EV charging sites. In a statement on Tuesday, the companies said that Morrisons would still supply food and groceries across the forecourts and its name would remain above the door. The companies pledged in their statement that "Value-for-money supermarket fuel will remain the offering on Morrisons forecourts". Rami Baitiéh, chief executive of Morrisons, said: "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 benefiting from greater focus on investment in Morrisons' core food business.
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