Woolies strikes ‘Plan B’ deal with Caltex after BP sale collapse
Woolworths has moved to “Plan B” for its service station business after their sale to BP collapsed, striking a 15-year supply agreement and alliance with Caltex covering fuel supply, convenience stores, wholesale food and loyalty rewards.
However, the retail giant will still pursue a float or sale of the petrol business, with plans for an IPO being finalised within the next year.
Caltex has supplied fuel to Woolworths’ 534 service station since 2004 under a contract worth about $150 million a year. Sydney Morning Herald – Read more…