Co-op has signed a new franchise agreement with EG On The Move with targets for significant growth with ambitions to reach over 500 franchise stores by 2030, as announced today (9).
This agreement will initially see seven new Co-op franchise stores open this summer, with the petrol forecourt business, EG On The Move, which has recently announced plans to grow by over 120 sites in the next three years.
This new store growth aligns well with the broader growth ambitions across the Co-op’s core businesses – Food Retail, B2B and Life Services – aiming to broaden reach and scale and reach eight million member-owners by 2030.
As part of this growth plan, in the B2B business, Co-op has today announced its ambitious plans to scale its award-winning franchise stores to reach over 500 by 2030, across petrol forecourts, universities and convenience.
Co-op already has a strong pipeline of franchise launches planned for 2024, across universities, convenience and also its first stores in NHS Hospitals, providing a range of solutions underpinned by its values, expertise, and operations.
These EG On The Move store developments build on the new Co-op trial format in three petrol stations last year, and the addition of its first Welsh franchise stores at the start of this year.
The new Co-op franchise stores rolled out as part of this agreement with EG On The Move are based across the UK.
Jerome Saint-Marc, Managing Director B2B and Growth, 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, enabling us to share our convenience expertise with partners of pedigree.
“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 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.”
Co-op currently operates almost 2,400 food stores and provides products to over 6,000 other stores including those run by independent co-operative societies and through its wholesale business, Nisa Retail Limited.
Zuber Issa, CEO, EG On The Move, said, “EG On The Move is an acknowledged petrol forecourt and convenience retail destination operator, and we are delighted to have the opportunity to collaborate with Co-op to roll out their new convenience store formats. Following on from this seven-store trial, we look forward to working with Co-op to consider other locations across the network.
"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.”
Brian McLister
