Viva Energy

Australian fuel supplier Viva Energy Group Ltd said on Wednesday it will buy convenience retailer On the Run (OTR Group) from Adelaide-based Peregrine ...

(( In September last year, Viva Energy said it plans to buy convenience stores from Coles Group Ltd COL.AX, giving it a bigger store network than arch rival Ampol Ltd ALD.AX. The deal to buy OTR, which has a network of 205 convenience retail stores, will see Viva Energy become the biggest non-government employer in South Australia, Viva said.

Coles Express petrol and convenience outlets will be rebranded as OTR as part of a $1.15 billion takeover of the SA-headquartered convenience retailer by ...

Viva’s $1.15b deal to secure OTR is with the Peregrine Corporation, a family-owned and operated business that started in 1984. Both are included in the deal. Coles Express reported $1.13b in sales in the 2022 financial year. It has 710 outlets nationally, while OTR — which trades with the slogan of “we never close” — has 174 fuel and convenience stores and 31 standalone stores. Viva — which last September announced it would buy Coles’ petrol station and convenience business for $300 million — on Wednesday announced it would buy the OTR (On The Run) network and broaden it nationally. Coles Express petrol and convenience outlets will be rebranded as OTR as part of a $1.15 billion takeover of the SA-headquartered convenience retailer by Viva Energy.

By David Winning SYDNEY--Viva Energy Ltd. moved to generate more earnings from non-fuel sources by acquiring the OTR Group from Peregrine Corp. for 1.15...

Viva said the deal brings 205 stores operating under the On The Run brand, mostly integrated fuel and convenience retail sites. Viva said the acquisition will lift the share of its earnings from non-fuel sources to roughly 50% of its Convenience and Mobility business, from around 30%. The deal will be self-funded via A$1 billion of debt and working capital, and A$150 million of equity issued to the sellers, Viva said.

South Australian petrol station and convenience store chain OTR Group has been sold to a national ASX-listed company for $1.15 billion, with plans for ...

Please click below to help InDaily continue to uncover the facts. Your contribution goes directly to helping our journalists uncover the facts. It was also announced today that Viva Energy had signed a 10-year naming rights sponsorship of The Bend. It is expected to be completed in 2024. “The Shahin family is committed to continuing to see Adelaide as the home of OTR and Viva Energy have provided for the realisation of a larger, enhanced OTR to continue to be headquartered here.” “A condition of the deal from day one was that Viva agree to keep the business headquartered in Adelaide, and they’ve actually done one better, they’ve agreed to make Adelaide the headquarters of the entire national Coles Express/OTR/Viva retail business.

The Viva Energy Group Ltd (ASX:VEA) share price has climbed to a multi-year high today. Here's why this ASX 200 stock is rising...

This diversifies its earnings exposure, lifting the share of earnings from non-fuel sources from ~30% (post Coles Express) to an expected ~50%. As our stores increasingly become retail destinations, we expect convenience earnings will grow and reduce our dependency on traditional fuels. Its retail network consists of 257 company owned and controlled leasehold stores across Australia, together with an online retail website. It highlights that OTR generates over 70% of its earnings from non-fuel retail, which would otherwise have taken the company years to develop. Based on estimated earnings and synergies, this represents a 7x EBITDA multiple. It also includes 92 stores which incorporate quick service restaurants (QSRs) operated by OTR.

Viva Energy (ASX: VEA), a major Australian fuel supplier and the operator of Shell and Liberty service stations, has today announced its intention to ...

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The merger will amalgamate OTR, Smoke Mart & Gift Box (SMGB) and the Wholesale Fuels businesses into Viva Energy's Convenience & Mobility business. To create a ...

Employment with OTR Group team members and support centre staff have been invited to join Viva Energy on their existing terms and conditions. We are committed to the successful integration of these businesses, and the OTR Group is very excited to be joining one of Australia’s largest retailers.” To create a network of over 1,000 convenience retail outlets, including Coles Express convenience, and Liberty Convenience businesses.

Viva Energy has acquired the OTR Group, in a $1.15bn deal that is expected to make OTR the leading retail convenience brand in Australia.

The Shahin family is committed to continuing to see Adelaide as the home of OTR and Viva Energy have provided for the realisation of a larger, enhanced OTR to continue to be headquartered here.” Their combined priorities will be to integrate the businesses, build the operating structure, further develop the OTR network, test formats for deployment into the Coles Express network and realise synergies. This is a huge opportunity for The Bend and all our dedicated staff who have made this venue what it is today.” In today’s announcement, Viva Energy has confirmed plans to transition the Coles Express network over to OTR. The OTR digital platforms provide customers with fuel, QSR and convenience rewards and discounts, which supports higher sales through cross-selling convenience and fuel products. Shahin will be retained by Viva Energy to support the existing OTR Group and transition the business to Jevan Bouzo, Viva Energy’s CEO of Convenience & Mobility.

The owner of Shell and Liberty petrol stations is planning to revamp retail offerings at some of its locations across the country after reaching a deal to ...

[Nick Toscano](/by/nick-toscano-hvf8m)is a business reporter for The Age and Sydney Morning Herald.Connect via If the deal proceeds, Viva will become the biggest employer in South Australia, with more than 14,000 team members. The company generates more than $3 billion of revenue a year and employs about 6500 people.

Law firm Clifford Chance's M&A boffins have scored a new deal credit to add to their 2023 lists.

Email Kanika at [[email protected]](mailto:[email protected]) [Emma Rapaport](/by/emma-rapaport-p53697)is the markets reporter at The Australian Financial Review Connect with Emma on [[email protected]](mailto:[email protected]) Email Sarah at [[email protected]](mailto:[email protected]) [Kanika Sood](/by/kanika-sood-p535tz)is a journalist based in Sydney who writes for the Street Talk column. [Sign up to the Street Talk First Look newsletter.](https://login.myfairfax.com.au/beta/members/my_account/newsletters?callback_uri=https://www.afr.com&channel_key=9ME3ACTT4ZYY1fEMfvR2EA) [Sarah Thompson](/by/sarah-thompson-j7ger)has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. [announced on Tuesday morning.](https://www.afr.com/companies/energy/viva-energy-in-1-15b-buy-of-on-the-run-20230405-p5cy7c) [ sale of CWP Renewables](https://www.afr.com/street-talk/how-underdog-squadron-energy-powered-up-cwp-s-4b-project-anemoi-20221207-p5c4dh) to Andrew Forrest’s Squadron Energy last year. [Rich Lister Shahin family’s](https://www.afr.com/rich-list) Peregrine Corporation, generates more than $3 billion revenue a year from its 200-plus network.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up slightly to ...

[update](https://www.fool.com.au/2023/04/05/why-is-the-core-lithium-share-price-soaring-6-today-2/) on the maiden shipment of spodumene concentrate from the Finniss Lithium Operation in the Northern Territory. Red 5 produced 17,550 ounces of gold from the King of the Hills Gold Mine in the Eastern Goldfields region of Western Australia. [ASX: RED](https://www.fool.com.au/tickers/asx-red/)) This was ahead of schedule, with management previously expecting it to be ready by the end of the month. In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. Here’s why they are storming higher:

Fuel supplier Viva Energy (ASX:VEA) is set to acquire service station chain On the Run (OTR) Group for $1.15 billion.

OTR Founder, Mr. The acquisition will be self-funded through $1 billion of debt and working capital, and $150 million equity issuance to sellers, with 50 per cent of the equity component subject to a 12-month escrow period and the remainder subject to a 24-month escrow period. - The deal will increase Viva’s ownership of service station stores in Australia to over 1000, and is expected to immediately boost earnings in its convenience and mobility business by up to 50 per cent

A chain of petrol stations and convenience stores with more than 160 branches across parts of Australia has...

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The Adelaide-based chairman of the energy firm buying OTR for $1.15bn, former defence and environment Minister Robert Hill, says the franchise will underpin ...