Co-op has inked a new franchise agreement with EG On The Move as the convenience retailer targets “significant franchise growth ambitions”.
Seven new Co-op franchise stores open this summer in Doncaster, Billinghurst, Glasgow, Portlethen, Macmerry, Ipswich and Finmere with petrol forecourt business EG On The Move.
The first store as part of the new agreement is set to launch in Ogden Road, Doncaster, this week as the retailer looks to scale its franchise business to reach over 500 shops by 2030.
The business said core areas of growth include petrol forecourts, universities and healthcare, and independent convenience retailers.
The move aligns with growth ambitions across Co-op’s core businesses, with the convenience retailer aiming to broaden its reach and scale, and grow to eight million member-owners by 2030.
Co-op managing director B2B and growth Jerome Saint-Marc said: “We are hugely excited to be working with EG On The Move on these new franchise sites and to be able to bring our Co-op franchise offer to more locations.
“This is part of our broader expansion in the petrol forecourt market. It follows our strategy to pivot our growth in this market through franchise, growing our presence and enabling us to best utilise our expertise and offer in convenience.
“As part of the Co-op’s overall growth plans, growing our franchise stores is a key priority for us and we have ambitious and exciting plans to significantly increase our franchise footprint and become the partner of choice across a range of sectors.
“We’ve got an excellent market proposition. And whilst it’s highly competitive, we believe there’s huge potential to unlock growth with our trusted brand, and unique offer and expertise.”
EG On The Move CEO Zuber Issa, who just last month sold his stake in Asda to TDR Capital, added: “Co-op is a well-established convenience operator, respected in the market and a recognised consumer brand, and this partnership not only promises to enhance our convenience store offer but it will also ensure our customers have access to exceptional fuel retail services including EV charging, a wide choice of essential and premium grocery and merchandise along with an enjoyable foodservice experience.”
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