Viva Energy will become the largest fuel and convenience network under a single operator in Australia with the acquisition of Coles Express in a $300m deal.
The acquisition, which is still subject to regulatory approvals, will accelerate the company’s strategy to transition to a fully integrated fuel and convenience retailer.
The deal will see Viva Energy take full ownership of the 710 Coles Express sites, which Scott Wyatt, CEO of Viva Energy, says will enable the company to further extend its network, invest in new and innovative convenience offers across its stores, and enhance its loyalty and digital programs.
“By bringing our two businesses together we will be better placed to make the investments and innovations which will be necessary to deliver more value to our customers and drive our future success. This will see the company transition to being a fully integrated Retailer serving about 300,000 customers every day to meet their energy and convenience needs.”
Wyatt said that while the Coles Express brand will eventually be replaced, the company will continue to retain the Shell brand, and customers will continue to be able to redeem their Coles Shopper Dockets and earn Flybuys points.
“Our nationwide network of more than 700 stores is ideally placed to meet these evolving needs and we are excited about the opportunity to expand and grow our fuel and convenience business with the acquisition of Coles Express and the retailing capability and customer service which is delivered by about 6,000 team members across the country,” explained Wyatt.
The acquisition is expected to be completed in the first half of 2023.
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Well done to all convenience stores for their resilience during the pandemic. Now I wonder what would change when electric vehicles enter the market enmasse..I am hoping these stores would gradually transition to charging stations. Any comments please.
Kind regards
Patrick