UK’s Motor Fuel Group (MFG) is in talks to acquire 340 fuel retail forecourts from supermarket chain Morrisons, reports Reuters.
Additionally, the deal would also include 500 freehold plots of land at the supermarket chain’s locations where “ultra-rapid electric vehicle (EV) [charging] and valeting hubs will be deployed,” MFG said to Reuters.
Sky News quoted one person close to the source saying, “A deal will allow both companies to play to their strengths, with Morrisons' pumps operated by MFG, a best-in-class forecourt operator, and the supermarket chain focusing on what it does best—food making and retailing.”
According to ETAuto, Motor Fuel Group boasts a network of over 900 operational sites across the United Kingdom while Morrisons stands as the fifth largest supermarket group within the country. Both companies are controlled by U.S.-based private equity group Clayton Dubilier & Rice.
MFG stated that it “is already committed to invest 400 million pounds over 10 years into building ultra-rapid EV hubs across their existing 900-strong MFG forecourt network.”
Sky news reports that an agreement between the two companies may likely be reached in the fall.
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