HWL Ebsworth acts for Coles Express on a new alliance partnership to position Coles as Australia’s leading convenience retailer
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.”
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