- MFG and Morrisons team up for a groundbreaking forecourt partnership and EV expansion.
- 337 Morrisons forecourts are secured, while Morrisons gains a 20% stake in MFG, totalling £2.5bn.
- MFG is set to deploy 800 Ultra-Rapid 150kW EV chargers, transforming over 1,300 sites into major EV hubs.
MFG’s mega move in Morrisons forecourt EV charging takeover
Motor Fuel Group (MFG) and Morrisons have today sealed the deal on a significant partnership. MFG is set to acquire 337 Morrisons petrol forecourts, comprising fuel stations, convenience retail kiosks, and supplementary services. Moreover, over 400 associated sites across the UK will become dedicated to Ultra-Rapid EV charging development.
In a bold move, the proposed £2.5 billion transaction signals the birth of a strategic alliance. Morrisons will secure a minority stake of approximately 20% in MFG, amplifying their commitment to the venture. Furthermore, Morrisons will forge commercial and supply agreements with MFG, cementing the enduring nature of their partnership in the competitive landscape.
William Bannister, CEO of MFG, said:
“MFG is proud to be a British entrepreneurial success story that is investing in jobs, critical infrastructure, and serving our communities to help the country achieve its decarbonisation transition. 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. We look forward to working with Morrisons to provide best-in-class charging, refuelling and retail experiences for all our customers.”
The deal is set to spark significant synergies in fuel retail and ancillary services, while offering scale advantages and growth opportunities. It’s a win-win for UK motorists and shoppers, preparing the nation for the end of new diesel and petrol car sales by 2035 as part of the Government’s push toward achieving net zero emissions by 2050.
Get ready for some big moves
- Morrisons pledges to keep supermarket fuel prices consistent across its estate, ensuring value-for-money options with the iconic Morrisons brand.
- MFG is turbocharging its nationwide EV network with Ultra-Rapid chargers, targeting 800 installations within five years, delivering 100 miles in just 10 minutes.
- Expect a major upgrade in convenience retail offerings at MFG sites, focusing on food-to-go and valeting facilities.
- Morrisons remains the go-to for food and groceries at 337 petrol forecourts, with plans to expand into MFG’s estate through its thriving wholesale operation.
This bold investment solidifies MFG’s status as a key player in the UK’s EV charging landscape. With over 1,300 sites slated to serve millions of customers weekly, MFG will emerge as one of the country’s largest ultra-rapid EV charge point operators. Additionally, it’s set to climb the ranks as the UK’s second-largest convenience store operator, enriching communities nationwide.
MFG’s commitment doesn’t stop there. With a £400 million EV roll-out already underway, it’s poised to electrify approximately 800 sites with thousands of Ultra-Rapid chargers by 2030, marking a monumental step towards a sustainable future.
The proceeds from the sale will fuel Morrisons’ continued investment in its grocery and food production arms. It will also bolster the company’s capital structure, paving the way for enhanced financial stability and growth opportunities.
Rami Baitiéh, CEO of Morrisons, commented:
“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. We are delighted to have such a strong partner in MFG and look forward to the opportunities a combined MFG and Morrisons forecourt offering will provide.”
This partnership signifies a pivotal step forward, reaffirming Morrisons’ commitment to employees and customers alike. With investments in EV charging, valeting services, and expanded convenience offerings, new jobs will surely surge as the MFG estate grows. With a promising outlook, they move forward, united in shaping a more sustainable future.
