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BP and Woolworths agree fuel retail partnership
BP is to establish a strategic partnership with Woolworths, one of Australia’s largest supermarket retailers. The deal includes BP acquiring, rebranding and operating Woolworths’ existing 527 fuel and convenience sites, as well as an additional 16 sites currently under construction, across Australia for a total consideration of $1.3bn.
A new fuel and convenience offer, Metro at BP, will be the first of its kind for Australia’s growing convenience sector, bringing together BP’s quality fuels, Woolworths’ Everyday Rewards, fuel discount dockets and a new range of high-quality, ready-to-eat and take home fresh food products, reports the oil major.
Initially, the partners will launch a Metro at BP pilot programmes across 16 BP fuel and convenience sites and phase two of the programme will expand the Metro at BP format across more than 200 sites.
The acquisition of Woolworths’ fuel and convenience sites will add to BP’s existing network of 350 company-owned retail sites across Australia. BP also supplies fuel and branding to a further 1,000 sites owned by independent business partners.
News Item details
Journal title: Petroleum Review
Subjects: Economics, business and commerce, Commercial, Fuel oil, Aviation fuel handling
