Motor Fuel Group (MFG) has agreed to buy Murco Petroleum’s 228 UK forecourt sites.
MFG, which is backed by Alasdair Locke and private equity group Patron Capital Partners, currently operates 60 service stations, chiefly under the BP and Jet fuel brands. Both the MFG and Murco retail estates trade under the Costcutter banner.
As part of the deal, MFG will also take over the running of Murco’s dealer network of independent retailers, which numbers over 200 sites, and these stores will continue to offer fuel under the Murco brand.
MFG managing director Jeremy Clarke said: “We are delighted with this exciting transaction. The signing of this agreement supports our stated objective to grow Motor Fuel Group into a significant force in the UK forecourt sector.”
The deal is expected to complete by the end of September.