HWL Ebsworth has advised Coles Express on agreements to restructure the terms of its fuel and convenience alliance with Viva Energy Limited (Viva). Coles Express is one of Australia’s largest fuel and convenience retailers, with approximately 685 sites across Australia, employing more than 5,000 team members.
The parties agreed to extend the alliance until 2029. The new contract terms allow each party to leverage their core competencies – Coles as a convenience retailer, and Viva as a fuel retailer, together in a competitive integrated offering.
Coles will receive a commission per litre on fuel sales at alliance sites. Viva will set the retail price of fuel and receive the retail fuel margin. To protect Coles’ convenience business, the contracts include terms relating to Coles Express achieving a satisfactory return on capital over the medium term. Coles’ convenience business may also access wholesaling opportunities to supply Viva’s broader network of independent retailers.
The deal team was led by Coles Relationship Partner, Brendan Earle with assistance from Special Counsel Emily Kishida, Senior Associate Maliq Maideen and Partners David Marriott, Peter Campbell, Karen Fairbairn and Polat Siva.
Brendan Earle said: “It was pleasing to assist Coles Express on an important strategic transaction to re-establish the alliance as Australia’s leading petrol and convenience retailer.”
Note to Editors:
HWL Ebsworth is the largest legal partnership in Australia according to the most recent partnership surveys published by The Australian and the Australian Financial Review and is the only commercial law firm with an office in every Australian State and Territory.
The firm comprises 1,268 staff including: 257 Partners, 655 other legal staff and 356 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Melbourne, Hobart, Norwest (North West Sydney), Perth and Sydney.
HWL Ebsworth is an independent, nationally integrated, full service commercial law firm, providing tailored and commercially oriented legal services.
HWL Ebsworth operates a different business model to the other leading national law practices, and this allows us to offer unrivalled value for money without compromising quality and service. Our low ratio of solicitors to partners ensures that our clients receive optimal access to partner resources for all matters.- Ends –
For further information, please contact:
Russell Mailler, National Marketing Manager (03) 8644 3569 or rmailler@hwle.com.au