The deal will mean MFG taking over all 337 of Morrisons’ petrol forecourts, including fuel, convenience retail kiosk and ancillary services.
It also includes more than 400 associated sites across the UK for Ultra-Rapid electric vehicle charging development.
As part of the transaction, Morrisons will take a minority stake of approximately 20% in MFG, and enter into commercial and supply agreements with the petrol filling station operator.
MFG and Morrisons are both owned by the same US-based private equity firm, Clayton Dubilier & Rice.
No compulsory redundancies are said to be linked to the sale, with forecourt staff said to be provided with an in-store position on the same pay and employment terms, most likely be in the store to which the forecourt is attached.
Rami Baitiéh, CEO of Morrisons, said: “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.”
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.”
Zapmap, the UK’s leading eMobility Service provider dedicated to accelerating the transition to low emission mobility, commented on the news.
Melanie Shufflebotham, Co-founder & COO at Zapmap, said: “It’s fantastic to see MFG partnering with Morrisons to deliver reliable, high-powered charging for electric car drivers across the country. This acquisition of sites for EV charging amounts to a significant expansion of MFG EV Power’s Ultra-Rapid network and is undoubtedly a win for UK motorists. MFG’s fast-paced rollout of charging hubs is certainly impressive, while the increased availability of ultra-rapid charging capabilities across the UK will contribute to greater adoption of vehicles, which of course pollute less and support our collective efforts to reduce harmful carbon emissions.”
Morrisons has filling stations in Swansea, Llanelli, Carmarthen, Port Talbot, Neath and Haverfordwest.
(Lead image: Morrisons)
