Viva Energy announced it has completed the acquisition of Coles Express Convenience, having paid a headline consideration of $300 million.
This, together with their recently announced acquisition of South Australia-based, family owned, On the Run Group (OTR), means Viva Energy is now on track to becoming Australia’s largest convenience and mobility retailer.
“We are delighted to bring together these two businesses together under one single operator with more than 700 stores” said Scott Wyatt, Viva Energy CEO and Managing Director.
“The transaction accelerates our plans to grow and transform our convenience and mobility business while ensuring customers continue to enjoy the excellent customer service, the extensive product range in-store and the loyalty programs.”
While the Coles Express branding will eventually be replaced by OTR, customers will still be able to redeem their Coles discount dockets and earn Flybuy points.
Viva Energy supplies approximately a quarter of the country’s liquid fuel requirements.