MFG completes acquisition of Morrisons’ forecourts

The £2.5bn transaction includes 337 service stations and 400 associated sites previously owned by the supermarket chain.

Motor Fuel Group (MFG) has completed the acquisition of Morrisons’ fuel retail business in a transaction worth £2.5bn.

The deal includes 337 of the supermarket chain’s service stations alongside 400 associated sites in the grocer’s car parks. Announced back in January, this transaction has been branded as a “new strategic partnership” between both parties to develop the fuel retail network.

Apart from the sale, Morrisons has taken a 20% stake in MFG and agreed commercial and supply deals, which the retailer names as part of its convenience growth strategy. The supermarket brand will use the £1.8bn cash proceeds from the sale to grow its “capital structure and repay certain of its debt obligations.”

In addition, the deal positions MFG as one of the largest and most significant ultra-rapid EV charge point operators in the UK, with over 1,300 sites serving and powering millions of customers a week.