Viva Energy

2022 - 9 - 21

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Image courtesy of "Motley Fool Australia"

Coles shares on watch after massive $300 million selloff to Viva ... (Motley Fool Australia)

Coles Express petrol stations will disappear over the next two years, as the retail giant refocuses on its supermarket and liquor outlets.

It will assist Viva for the next two years to ensure continuity of operations. But Viva does take on real estate lease liabilities of more than $800 million. “The acquisition means we will be able to accelerate our plans to grow the integrated fuel and convenience business while our customers continue to enjoy the excellent customer service provided by the dedicated Express team.” “Viva is well-placed to make the most of opportunities to grow the Express business into the future, while we will strengthen our focus on our omnichannel supermarket and liquor businesses.” The completion of the Coles Express takeover will occur in the first half of 2023, subject to conditions such as approval from the Australian Competition and Consumer Commission. The newly acquired Coles Express locations will be rebadged over the next two years to Viva’s Shell branding.

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Viva Energy to acquire Coles Express (Big Rigs)

Viva Energy Group Limited has today announced it will acquire the Coles Express convenience business from Coles Group.

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. “Our relationship with Coles spans almost 20 years and we are delighted to continue in partnership with them following this acquisition. In the future, customers will also be looking for convenient electric vehicle recharging options while they are on the road, and in time we can also expect to see hydrogen refuelling facilities at major highway service centres.

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Image courtesy of "Business News Australia"

Viva Energy picks up Coles Express network for $300 million (Business News Australia)

Coles Group (ASX: COL) has today announced it will sell its 710 Coles Express sites to Viva Energy Group (ASX: VEA) for $300 million, with the retail giant ...

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Coles Group to sell convenience store business to fuel partner Viva ... (Inside Retail)

Coles Group is to sell its fuel and convenience business to listed Viva Energy for $300 million, with settlement next year.

Coles said it expected to achieve a “small gain” from the sale. Viva Energy and Coles have been operating the business in a partnership that was otherwise scheduled to end in 2029. All sites will be rebranded by Viva Energy during the next two years.

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Australia Shell fuel owner Viva to pay $201 mln for convenience chain (Reuters)

Viva Energy Group Ltd , owner of the Shell service station chain in Australia, plans to buy the convenience stores on its sites from Coles Group Ltd ...

For Viva, it presents an opportunity to broaden customer engagement ahead of an expected demand recovery and transition to electric vehicles, while supermarket operator Coles gets out of a non-core business. Fuel sales in Australia have dipped since COVID-19 restrictions kept people home, then again in 2022 when war in Ukraine sent energy prices soaring. Register now for FREE unlimited access to Reuters.com

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Viva Energy share price leaps 5% on Coles acquisition (Motley Fool Australia)

The Viva Energy Group Ltd (ASX: VEA) share price is surging after the company announced it's acquiring Coles Express for $300 million.

Most of the Coles Express sites dotted around the nation will be rebranded over the coming two years. Coles Express is a leading convenience retailer with considerable retail capability and experience. Coles Express will then be operated as an independent business. The company has today said that bringing them together now, rather than at the end of the partnership, will allow it to better optimise and grow the network. That’s assuming the network’s weekly fuel volumes increase to between 65 megalitres and 70 megalitres. Coles and Viva Energy previously operated Coles Express in partnership, with Coles operating the stores and Viva taking control of retail fuel pricing and marketing.

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Why Air New Zealand, Cronos, Soul Patts, and Viva Energy shares ... (Motley Fool Australia)

Air New Zealand Limited (ASX:AIZ) and Washington H. Soul Pattinson and Co. Ltd (ASX:SOL) shares are two of four pushing higher on Wednesday...

This allowed the company to declare a fully franked final ordinary dividend of 43 cents per share and a 15 cents per share special dividend. Soul Patts [ASX: SOL](https://www.fool.com.au/tickers/asx-sol/)) The transaction will see Viva Energy own and operate the 710 Coles Express sites currently operated by Coles. [ASX: VEA](https://www.fool.com.au/tickers/asx-vea/)) It also advised that there are 800 doctors using the platform in Australia, which represents just 3% of its addressable market. In light of this, the company projects earnings before taxes and other significant items to be in the range of NZ$200 million to NZ$275 million for the first half of FY 2023. [ASX: CAU](https://www.fool.com.au/tickers/asx-cau/)) [ASX: AIZ](https://www.fool.com.au/tickers/asx-aiz/)) At the time of writing, the benchmark index is down 1.5% to 6,705.4 points. Here’s why they are pushing higher: Air New Zealand revealed that it is currently running at 70% of pre-pandemic capacity.

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Image courtesy of "The West Australian"

Coles to offload petrol station business to Viva Energy (The West Australian)

The supermarket giant Coles plans to offload its petrol and convenience store business to Viva Energy, its fuel provider - almost seven years before the ...

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Image courtesy of "Sky News Australia"

Coles offloading petrol business to Viva Energy (Sky News Australia)

Coles is exiting the fuel retailing business with their $300 million sale of the Coles Express petrol stations to Viva Energy. The deal is expected to ...

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Viva Energy to acquire Coles Express in $300m deal - Convenience ... (Convenience & Impulse Retailing)

Viva will become the largest fuel and convenience network under a single operator in Australia with the acquisition of Coles Express.

This will see the company transition to being a fully integrated Retailer serving about 300,000 customers every day to meet their energy and convenience needs.” The deal will see Viva Energy take full ownership of the 710 Coles Express sites, which Scott Wyatt, CEO of Viva Energy, says will enable the company to further extend its network, invest in new and innovative convenience offers across its stores, and enhance its loyalty and digital programs. Viva Energy will become the largest fuel and convenience network under a single operator in Australia with the acquisition of Coles Express in a $300m deal.

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