Sky News has reported that number one Top 50 Indie MFG is weeks away from a £2bn-plus deal to take over Morrisons 340 forecourts.
Both Morrisons and MFG are majority-owned by Clayton Dubilier & Rice (CD&R), the American private equity firm, and Sky News says they are now on the verge of a formal agreement – which is expected to be announced by early February.
The deal is expected to include 500 freehold plots of land at the supermarket locations where ultra-rapid EV and valeting hubs will be deployed.
MFG and Morrisons both declined to comment.
Background
MFG was acquired by CD&R for £500m in 2015 and has more than 900 stations, while Morrisons has around 335, giving it potential combined control of more than 1,200 forecourts.
CD&R acquired Morrisons following a bidding war with fellow US private equity group Fortress which resulted in the £7.1bn takeover of the UK supermarket in October 2021.
The Competition and Markets Authority (CMA) then announced an investigation of the acquisition which resulted in 87 sites being earmarked for sale.
