Viva Energy Group Limited has announced that it will be acquiring Coles Express, creating the largest fuel and convenience network in Australia under a single retail operator.
The acquisition is expected to complete in the first half of 2023 and will see the Shell brand continue to be retained.
Viva Energy CEO, Scott Wyatt, said the process will accelerate the company’s strategy to transition into a fully integrated fuel and convenience retailer while maintaining its position in the fast growing convenience segment.
“This is an exciting step for Viva Energy that will enable us to further extend our network, invest in new and innovative convenience offers across our stores, and enhance our loyalty and digital programs to simplify the way our customers transact with us,” he said.
“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.”
According to Wyatt, Viva Energy’s relationship with Coles spans almost 20 years, and he is delighted to continue it through this major step.
“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,” he said.
“While the Coles Express brand will eventually be replaced, customers will be able to continue to redeem their Coles Shopper Dockets and earn Flybuys points, and in time we plan to broaden the range of loyalty and digital offers to provide even more value to our customers.”