Ampol will pay AUD 1.1 billion to purchase EG Australia

Ampol Limited has entered into an agreement to acquire EG Australia, one of the country’s leading fuel and convenience retailers, in a deal valued at AUD 1.1 billion (USD 737 million). The transaction will add approximately 500 service station sites to Ampol’s network, strengthening its position as a leading transport energy provider in Australia.

Managing Director and CEO Matt Halliday described the acquisition as a strategic growth initiative, highlighting Ampol’s long-standing partnership with EG Australia through an existing brand licence and 15-year fuel supply agreement. He noted that the deal will broaden customer reach, enhance convenience retail operations, and drive stronger shareholder returns.

The combined business will accelerate the expansion of Ampol’s premium Foodary format and its value-focused U-GO offering, while also extending the Woolworths Everyday Rewards program. According to Halliday, the acquisition is expected to be earnings-accretive, supported by AUD 65–80 million (USD 43.6–53.6 million) in identified synergies through overhead savings, U-GO conversions, and operating efficiencies.

Ampol plans to finance the purchase through a mix of debt facilities, upfront working capital release, asset divestments, and shares issued to the vendor. To obtain regulatory approval, the company intends to divest around 20 sites where network overlap occurs.

The deal remains subject to clearance from the Australian Competition and Consumer Commission (ACCC) and is expected to close by mid-2026. Upon completion, Ampol anticipates that its fuel and convenience businesses in Australia and New Zealand will account for roughly 85% of total group earnings.