Coles and Viva Energy enter new fuel deal

Viva Energy will pay $137 million to renew its fuel partnership with Coles and gain the right to set fuel prices.

Coles will remain responsible for operating the Coles Express retail stores and will receive a commission per litre of fuel sold at Viva’s Shell filling stations, while Viva will receive an enhanced royalty on convenience sales.

“Together, we represent Australia’s leading fuel and convenience offer and we look forward to growing the Alliance with Coles Express in the years to come,” Viva Energy chief executive Scott Wyatt said in a statement.

The new 10-year agreement come into effect from March 2019.

Source link Finance News Australia

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