Motor Fuel Group is considering a £2bn takeover of Morrisons
The complex takeover of Morrisons by the British Motor Fuel Group has reached its final stage. There has been a protracted standoff between the companies. Morrisons, the country’s fifth-largest supermarket chain, has been in negotiations with the country’s largest forecourt operator for months, and the parties have finally reached an optimal solution. MFG will buy its forecourts from Morrisons. The deal will be worth £2 billion.
Morrisons is the fourth largest retailer in the UK. MFG is mainly interested in the company’s 340 petrol stations. In addition to the petrol stations, the deal also includes 500 plots of land near the chain’s supermarkets. On these sites, MFG plans to build ultra-fast charging points for electric cars and complexes to service them.
As part of its expansion strategy, Motor Fuel plans to invest £400m in the construction of electric car charging and servicing centres. The plan started in 2021 and will last for ten years, during which time the company will locate the new complexes at the existing service stations. Currently, MFG has 900 charging stations.
Developing the infrastructure for electric transport
Motor Fuel Group is actively developing charging points for electric cars. In 2022, the company’s superfast electric car service centres accounted for 30% of all such complexes in the UK. At this stage, the business is showing excellent expansion results:
– 271 ultra-fast charging complexes were opened as part of petrol stations for fuelled vehicles;
– 31 hubs were under construction;
– 175 charging points were in the final stages of construction.
In 2023, MFG has committed £50 million of investment in this area, enabling 360 new electric vehicle charging points to open. In January 2023 alone, the company launched the construction of 12 hubs, surpassing the entire first quarter of 2022.
MFG’s ultra-fast hubs include 4 to 8 charging stations, each with a capacity of 150 kW. This allows an electric car to charge its battery in just 10 minutes to cover a distance of 100 miles. This figure may vary depending on the characteristics of the electric car.
The company promises to upgrade its installations as the chargers become more advanced. In this way, MFG aims to maximise the comfort of electric car owners and reduce charging times. Its strategy also aims to popularise zero-emission transport and support the government’s climate targets. In addition to petrol stations, the company is developing its retail network, including the sale of food and various customer services.