UK supermarket chain Somerfield is in talks to buy some 140 forecourt convenience stores from Texaco Limited, a subsidiary of ChevronTexaco Corporation.


The two companies have signed a memorandum of understanding for Somerfield to acquire the sites, Somerfield said. The proposed acquisition would give Somerfield over 170 convenience stores, which, it said, is in line with its strategy to increase its presence in the UK forecourts and convenience store sector.


Under the terms of the agreement, the convenience stores, once redeveloped, will be refitted, branded and operated by Somerfield who will also operate the forecourts.  Texaco will continue to supply the fuel to the forecourts which will retain the Texaco brand.


The Texaco forecourt portfolio is predominantly freehold and Somerfield expects that the transaction would involve the participation of a third party property partner who would acquire, develop and lease the properties back to the Company.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now