Viva Energy's $300 Million Acquisition of Coles Express Fuel and Convenience Retailing Network

Viva energy has completed its $300 million acquisition of the Coles Express Fuel and Convenience Retailing Network. Viva, which has pretty much always been a fuel refiner, is pushing into grab and go shopping. This deal means Viva takes ownership of 700 convenience stores, which were previously operated under the alliance between Viva and Coles. Operators like Viva know that the growth in electric vehicles in Australia means their primary role, refining oil and pumping petrol, will be diminished over coming decades. Now, including on the run in Coles Express, Viva's earnings will be about 50% non-fuel.