The Shahin family who own Peregrine Corporation, one of Australia’s top 50 private companies, are pleased to announce the proposed acquisition of Mobil’s retail network in South Australia.
Peregrine Corporation is a family owned retail business based in South Australia that owns and operates convenience stores that offer fuel, under its “On the Run” brand.
The intention is to convert each Mobil store in SA to an On The Run.
On the Run stores are recognised for their unique multi-offer formats with many brands represented in the same location. Brands represented on site include C Coffee, Subway, Brumby’s Bakeries and Happy Wash.
The proposed acquisition is related to a broader deal announced today between 7-Eleven Stores Pty Ltd and Mobil Oil Australia Pty Ltd for Mobil’s national retail network. Peregrine has contracted with 7-Eleven to acquire the 29 South Australian stores. This is currently scheduled for October 2010.
Peregrine Corporation Executive Director, Yasser Shahin said: “On the Run started with a single service station purchased by my father, Fred Shahin in 1984. Today we serve approximately 20 million customers every year. Our success is primarily due to our culture and people that work within the business, particularly the ownership taken by teams on site to deliver our ‘promise’ to our guests that visit the stores. I am very focused on making the transition to our team as easy as possible for existing Mobil employees and our plans and resourcing around the new business have that as the priority.