Australia's Viva Energy adds convenience stores with $777 mln OTR deal

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Australian fuel supplier Viva Energy Group Ltd said on Wednesday it would buy convenience store operator On the Run (OTR Group) from Adelaide-based Peregrine Corp for A$1.15 billion ($776.60 million).

"OTR will become Viva Energy's flagship convenience brand, replacing the Coles Express brand over time," CEO Scott Wyatt said in a statement.

The deal to buy OTR, which has a network of 205 convenience retail stores, will see Viva become the biggest non-government employer in South Australia, the company said.

 

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