MFG plans to buy 337 Morrisons forecourts for EV charging

Motor Fuel Group (MFG) and Morrisons have agreed on a proposed acquisition, where MFG will acquire 337 Morrisons petrol forecourts and more than 400 associated sites, which will be used for Ultra-Rapid electric vehicle charging development.  

The proposed £2.5bn transaction forms a new strategic partnership between the two companies, with Morrisons taking a minority stake of approximately 20% in MFG, and enter into commercial and supply agreements with MFG.

Value-for-money supermarket fuel will remain the offering on Morrisons forecourts. MFG meanwhile will invest and install Ultra-Rapid EV charging infrastructure across the sites it acquires, targeting the installation of 800 Ultra-Rapid 150kW EV chargers, in hubs, within the first five years alone.
 
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.”

William Bannister, CEO of MFG, said: “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.”