MFG to acquire 337 Morrisons forecourts
Motor Fuel Group (MFG) is set to acquire 337 Morrisons petrol forecourts (including fuel, convenience retail kiosk and ancillary services) and more than 400 associated sites for Ultra-Rapid electric vehicle (EV) charging development.
The proposed £2.5bn transaction forms a new strategic partnership between the two companies. As part of the transaction Bradford-headquartered Morrisons will take a minority stake of approximately 20% in MFG, and enter into commercial and supply agreements with MFG.
Every Morrisons forecourt colleague will be provided with an in-store position on the same pay and employment terms, and in nearly all circumstances this position will most likely be in the store to which the forecourt is attached. There will be no compulsory redundancies.
Rami Baitiéh, CEO of Morrisons, said: “As the needs of the customer continue to evolve, Morrisons and MFG’s partnership will see us combine our respective expertise and resources to deliver the best value for customers at the pump, in our convenience stores and in our supermarkets.
“It means Morrisons customers will continue to see a competitive and attractive forecourt offering, including expanded access to EV charging, while also benefitting from greater focus on investment in Morrisons’ core food business. We are delighted to have such a strong partner in MFG and look forward to the opportunities a combined MFG and Morrisons forecourt offering will provide.”
William Bannister, CEO of MFG, said: “MFG is proud to be a British entrepreneurial success story that is investing in jobs, critical infrastructure, and serving our communities to help the country achieve its decarbonisation transition. This strategic acquisition, and the resulting partnership with the highly respected Morrisons brand, is the next major growth investment for MFG.
“It is anchored in the potential for us to accelerate the roll-out of Ultra-Rapid EV charging infrastructure across the UK while also giving customers a first-class retail offer. We will be there to serve and power our customers, regardless of what car they drive in the years and decades ahead as we play a key role in keeping the country and its economy moving.
“We look forward to working with Morrisons to provide best-in-class charging, refuelling and retail experiences for all our customers.”
Leeds-based property group secures £47m funding
Aldermore Bank has provided a subsidiary of the Pickard Properties Group with a £47m loan to refinance existing loans from other lenders with additional funds to support the continued development in Leeds of Tetley Hall, the former catering hall of residence at the University of Leeds, into the award winning Spinning Acres private rented sector scheme.
The funding will help acquire additional mixed-use assets, including student housing, residential, industrial and essential retail properties.
Pickard is a property investment and development business based in Leeds with over 50 years of experience in purchasing and developing residential, commercial and student properties.
The finance package was supported by Newsource Commercial Finance.
Michael Graham, senior lending manager at Aldermore, said: “We’re delighted to continue to support Pickard and further strengthen our relationship with them as a long-standing client.
“Pickard has a wealth of experience in the property sector and with our knowledge of their business and expertise, we were able to work together with them and Newsource to tailor a finance package they needed to make this deal happen.
“This additional funding helps Pickard in turn support many of their SME business tenants, as well as building sustainable housing and we look forward to continuing to work with Pickard as they go from strength to strength.”
Catherine Coleman, finance director with Pickard Group, said: “This finance from Aldermore will allow us to continue to acquire, manage and grow further in our core areas of expertise across Yorkshire. It’s fantastic to see our relationship with Aldermore continue to flourish and this is due to their ongoing commitment to understand our needs and ambitions.”
Brian Walters, director of Newsource, said: “This was very much a team effort from start to finish between ourselves and Pickard’s commercial finance broker, Tim Wilde whose long standing relationship with these valuable clients goes back many years.
“This was a complex deal involving a range of commercial and residential investment assets and a significant debt quantum which Aldermore was able to accommodate. I am delighted that we were able to successfully facilitate the completion of such an important refinance for the Group in what was a very challenging economic climate.”
Extra funding “not enough to make a difference” Leeds Council leader admits as annual budget plans finalised
The leader of Leeds City Council has described extra government funding as “regrettably not enough to make any real difference” as final budget plans to deliver £63.9m of savings in the next year are released.
The council’s budget report for the coming financial year 2024/25 includes a wide range of measures such as new car parking charges, price increases, service and staffing reductions together with a council tax increase of 4.98 per cent in order to deliver a balanced budget, as the council is legally required to do each year.
Councils across the country are experiencing severe financial stress as a result of significantly increased costs to provide services and rising demand, especially for vulnerable young people and adults. This is being seen especially in supporting looked after children, those with special care and education needs as well as for adult social care, while a nationally-agreed pay increase for council staff has also added to budget pressures.
The council is expecting to receive approximately £6.8m of extra government funding announced last week, which will be used to help cover the additional costs of children’s social care placements. While welcoming the extra money, the leader of Leeds City Council Councillor James Lewis says it won’t make a significant difference to the council’s overall financial position.
Leader of Leeds City Council Councillor James Lewis said: “While we welcome any additional support, the reality is it will regrettably not make much of a real difference given the scale of the situation we are in.
“The position remains perilous for not just us but councils across the country, with spiralling costs and a continuous challenge to make ends meet which has become almost impossible. The result is a budget which includes decisions we did not want to make but now have to reluctantly put forward for approval.
“They will have an impact on the services people see and receive, but we are committed to doing everything we can to keep providing for all our residents even if some things are going to have to change as the reality is we have no other choice.”
The position in Leeds reflects the impact of funding reductions, cost increases and demand pressures for council services since 2010. Between 2010 and the end of 2024/25, the council will have had to deliver savings totalling £794m.
The budget for 2024/25 identifies a further £51.9m of savings to add to £12m which had previously already been agreed for the coming financial year. Among the proposed changes are:
- Introduction of car parking charges at Middleton Park, Roundhay Park, Temple Newsam Park, Golden Acre Park and Otley Chevin Forest Park
- Introduction of car parking charges at Barley Hill Road in Garforth, Netherfield Road in Guiseley, Fink Hill in Horsforth, Marsh Street in Rothwell as well as Wilderness and Station Gardens car parks in Wetherby
- Changes to opening hours at community hubs and libraries
- Changes to fees and charges for adult social care in Leeds
- Review of council care home provision
- Review of fees and charges at community centres
- Review of children’s centres and Little Owls nurseries
- Bulky waste removal charges to remain free for each household’s first collection and then be reintroduced for more than one collection in the same year
- Pudsey Civic Hall which operates at a loss to be closed and made available for sale
- Council to end lease at Thwaite Watermill Museum (Thwaite Mills) through discussions with owners Canal & River Trust
- Council staffing levels to reduce by net 323.1 full-time equivalent posts by the end of the 2024/25 financial year compared to the approved 2023/24 budget, with ongoing trade union consultation to avoid, reduce and mitigate the needs for compulsory redundancies. The council currently has approximately 3,430 fewer staff than it did in 2010.
Training company’s Excellence Award winners revealed
2023 was a busy year for Verner Wheelock. They trained over 2000 delegates in HACCP, food safety, auditing and other subjects and completed 250 ethical audits. There were several standout delegates and companies to consider for the annual Verner Wheelock Excellence Awards.
The awards for 2023 Student of the Year went to the following:
- HACCP – Sara Hardacre of Warburtons;
- Food Safety– Victoria Phipps of AB World Foods;
- Auditing– Ben Morrison of Avara Foods.
City car dealership gets on board to back Power Hour
A series of free business Power Hour events set up to drive the development of the region’s digital economy has shifted up a gear by securing its first corporate partnership in a deal with Lexus Hull.
Mike Ellis, MD of performance marketing agency 43 Clicks North, said: “This will be our ninth Power Hour and the support of Lexus Hull promises to make it the best yet. It sends out a signal that this is much more than a tech gathering or marketing meeting.” Sam Tasker, marketing manager at Lexus Hull, added: “The Power Hour events I’ve attended have given me great insight and I’ve subsequently sent feedback to our national team on changes we could make to our paid social campaigns and where they take our customers. We felt we should get involved with Mike’s team, have a presence at the next event and find out what people know about Lexus.” Power Hour was launched by 43 Clicks North as a post-pandemic quarterly event to put top tech talent from East Yorkshire alongside some of the key players from bigger cities. All eight sessions have taken place at Social in Humber Street, Hull, with interest growing among people who work in digital marketing and also attracting the businesses they serve. The next Power Hour will take on Friday February 2nd at 12.30pm. Experts from agencies across Yorkshire will explore SEO and content from the stage at Social and then informally with networking over drinks and free pizza. With registrations for the the last three Power Hours each hitting capacity Mike is expecting another full house for the first event of 2024. He said: “The feedback is always really positive. People always learn something from Power Hour and they also make the most of the high level networking opportunities with other professionals. “Sam has been to some of the events, he’s seen how popular they are and he’s watched Power Hour grow and develop a strong business focus. It’s primarily about marketing but the people in the room discuss a lot more than that and it’s helping to develop the digital eco-system across a wide range of business sectors. “As it becomes bigger costs and expectations rise, and the support of Lexus Hull will help us to build the event, attract even higher profile speakers and increase participation.”Drax to launch new carbon removal specialist company
Global renewable energy company Drax Group is to establish a new independent business unit that will focus on becoming the global leader in delivering large-scale and high-integrity carbon removals.
The new business will oversee the development and construction of Drax’s new-build BECCS plants in the US and internationally and work with a coalition of strategic partners to focus on an ambitious goal of removing at least 6Mt of CO2from the atmosphere annually Senior energy infrastructure expert Laurie Fitzmaurice has been appointed as President for the US-headquartered entity, leaving the UK operation still managed by a team based here. The business will be operationally separate within the Drax Group and have its HQ in Houston in the United States. It will be led by Laurie Fitzmaurice, a senior energy infrastructure expert, who has nearly 30 years of experience in business development around the world. In the UK, Drax’s plans for installing BECCS onto its Power Station in Yorkshire and its transformation into the world’s largest carbon removals facility have recently been granted planning approval by the UK Government. The Government has also recently recognised the important role which biomass can play in delivering the UK’s plans for Net Zero as well as supporting energy security. The delivery of this project will continue to be handled by a UK-based team within Drax Group. Drax Group CEO Will Gardiner said: “The creation of this business brings to life years of hard work by many outstanding people across our Group and marks another step in Drax’s journey to enable a zero-carbon, lower-cost energy future. Our recent success is grounded in providing secure, renewable energy and our future is focused on playing a critical role in tackling climate change through the generation of secure, renewable power and the large-scale removal of carbon dioxide. “I am excited to welcome Laurie as President of our new US-headquartered carbon removals business and look forward to working with her. We have a limited window of opportunity to capitalise on our first mover advantage and I am confident that the time is right for this approach. “The new entity will bring focus and will scale the company’s ability to deliver carbon removals to organisations looking to reduce their carbon footprints. Delivering the ambitious targets will see the new entity become a leader in the growing carbon trading market.”Aldi adopts ‘Buy British’ web site tab in NFU campaign to support farmers
The move follows an open letter written by Conservative MP Dr Luke Evans to the chief executives of eight major supermarkets asking for a filter which would direct shoppers to homegrown food to help boost the economy and cut the UK’s carbon footprint.
The letter was was co-signed by 121 cross-party MPs, and echoed a long-standing NFU ask dating back to 2016.
Aldi Chief Executive Giles Hurley has written to Dr Evans MP to confirm the implementation of “a standalone ‘Best of British’ category on our website to showcase our incredible British products”.
They are the second retailer to take up the call to back Britain’s farmers after Morrisons announced a new ‘British’ section to its online food store last year.
Julie Ashfield, MD of Buying at Aldi UK, said: “Our Best of British webpage aims to give our customers the chance to navigate British products more easily whilst supporting the thousands of local suppliers that we work with.
“We are proud to champion so many British suppliers and they are at the heart of our success, allowing us to offer our customers great British quality at the best possible prices.”
NFU President Minette Batters said it was fantastic to see Aldi championing British farmers and thanked Dr Evans for his work on the campaign. Minette said: “Dr Luke Evans has been instrumental in driving this campaign forward, and thanks to his tireless efforts alongside the NFU I hope even more retailers will follow suit.”
Wates gets busy with new council housing in Leeds
Wates Construction is busy creating 88 new council houses as part of Leeds City Council’s Housing Growth Programme, and expects rot be finished by the end of next year.
The properties are going up on brownfield sites in Seacroft and the Ambertons area of Gipton.
David Wingfield, Wates’ regional director for Yorkshire & North East – Construction, said: “We’ve been working with Leeds City Council since 2020 to help deliver its Council Housing Growth Programme ambitions, and have completed more than 200 new homes for residents so far. It’s a privilege to work in partnership with them to build even more.
“This latest scheme has once again been carefully designed to suit the community’s requirements, prioritising energy efficiency, accessibility and affordability.
“Our approach to construction centres on supporting the entirety of Leeds in the long term – keeping spend local, creating new jobs and opportunities and investing into vital community initiatives.”
In Seacroft, 25 one-bedroom apartments and eight two and three-bedroom houses are taking shape on land at the corner of Brooklands Avenue and Seacroft Crescent.
In Gipton, 55 properties – including two, three and four-bedroom houses and one-bedroom bungalows – are being built on Amberton Terrace, Amberton Crescent, Amberton Street and Montagu Avenue.
Work on the scheme is now in full swing following some preparatory activity late last year, with completion due before the end of 2025.
Progeny snaps up Chartered financial advice firm
Leeds-based multi-disciplinary professional services firm, Progeny, has acquired Chartered financial advice firm, Chartered Wealth Management.
This will take Progeny’s total assets under management to £9bn.
With offices in Manchester and London, Chartered Wealth Management offer tailored financial planning and asset management services to high-net-worth clients.
They are a team of 21 members of staff, with nine Chartered financial planners and wealth managers, with a collective 170 years’ experience in providing financial help and advice.
Mark Stanbury, founding director of Chartered Wealth Management, said: “This is an exciting day for our team and our clients, as we join Progeny – a business rapidly growing in scale and profile.
“We look forward to being part of this unique business as well as the mission to transform and improve financial advice for the better, for our clients and the industry at large.”
Progeny CEO, Neil Moles, said: “It’s a pleasure to welcome such a prestigious and high-performing business into Progeny, one which is forward-thinking and committed to excellence in equal measure.
“This is the culmination of a five-year search for the right firm, one that will allow us to expand into a new geography but which also crucially meets the strict criteria we set for our acquisition targets around average client size and age, as well as the age and ambition of the firm’s team.
“With Chartered Wealth Management onboard, we look forward to building our presence and extending our proposition in the north west of England. There are exciting times ahead.”
A team from global law firm Squire Patton Boggs acted as legal adviser to Progeny during the deal and law firm TLT acted for shareholders of Chartered Wealth Management.
York students experience life in construction with city firms
Construction firms including Caddick Construction, John Sisk and Sons, and Simpson of York have given city Year 11 students a taste of apprentice life in their industry.
York teenagers have also been working with construction workers employed by community interest company Volunteer It Yourself, to breathe new life into grassroots music venues.
In November last year, a team made up of local tradespeople and students installed a new ramp at the Fulford Arms, making the venue more accessible for gig-goers with mobility issues, as well as building a sound booth to provide a safer experience for audiences and music tech teams.
This month has seen a second cohort of students team up with VIY to renovate the Vaults, on Nunnery Lane, gaining City and Guilds qualifications in carpentry, painting and decorating.
These projects have been part-funded by City of York Council through the UK Shared Prosperity Fund.
Pete Kilbane, the council’s Deputy Leader and Executive Member for Economy and Transport, including skills, said: “We’re delighted that partners from across the construction industry have offered these opportunities to the next generation, and I’d like to extend my thanks to all involved for taking the time to give our young people the chance to experience the world of construction first-hand.
“There really is no substitute for on-site experience and face-to-face mentorship; these schemes are helping the construction workers of tomorrow learn skills that go far beyond the classroom, inspiring them to pursue rewarding careers that will contribute to building our local economy for the future.
“With skills like these being ever more in-demand in the workforce, I’m confident that schemes like these will stand our young people in good stead as they embark on exciting and innovative career paths.”
