2023 Outlook & Conclusion
OTR Group Acquisition
Transaction highlights
Viva Energy to acquire OTR Group for $1.15bn. Completion
expected in 2H20231.
Contributes $165M to EBITDA (post synergies) on a pro-forma
basis².
A best-in-class convenience and QSR capability that generates
$3.9M of sales per store (versus Coles Express at $1.6m)³.
Further earnings upside from transforming suitable stores in Viva
Energy's national network to the 'full-service' OTR offer.
Growth pipeline of 90+ OTR stores (mostly outside South
Australia).
Conservative synergy estimates ($60M p.a. realised in 3 years),
with procurement benefits not yet quantified.
1.
Subject to regulatory approvals.
2.
3.
Earnings contribution is calculated using OTR Group's pro forma FY2023 (June-end) forecast period including synergies.
Estimated run-rate synergies of approx. $60M p.a. are anticipated in three years following completion.
Average sales per store calculated in FY2021-2022 (June-end).
CONTHERN
operto
oporto.
COFFEE Loporto
VIVA
EnergyAustralia
VCK & DEPREZ
2MYCKE
HEAL BOX
SNACKS & DESSERTS
Bay
BONDI
BOX
$10
oporto.
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