RED DEER, Alberta -- Parkland Income Fund said that it has signed an agreement to become a retail branded distributor (RBD) for Imperial Oil Ltd. in portions of British Columbia.
As the RBD for Alberta and Saskatchewan, Parkland currently purchases branded products from Imperial and performs all fuel sales and service functions previously supplied by Imperial to more than 150 gas stations in its dealer network in those provinces. This new agreement will see more than 20 additional sites in northern and eastern British Columbia added to Parkland's RBD [image-nocss] network.
Parkland said that it expects the implementation process to begin in September, with completion targeted for yearend 2006.
We are very pleased to be expanding the RBD program with Imperial as it has proven to be ideally suited to capitalize on the combination of Parkland's strength in Western Canadian nonurban markets and Imperial's well-recognized Esso brand, said Michael Chorlton, Parkland's president and CEO. We look forward to managing and growing the brand in this market area to the mutual benefit of Parkland, Imperial and the Esso dealer network.
Calgary, Alberta-based Imperial Oil is Canada's largest refiner and marketer of petroleum productssold primarily under the Esso and Mobil brandswith a coast-to-coast supply network that includes 2,100 retail outlets selling gasoline
Parkland Income Fund, Red Deer, Alberta, operates retail and wholesale fuels and convenience store businesses under its Fas Gas Plus, Fas Gas, Race Trac Fuels and Short Stop Food Stores brands and through independent branded dealers, and transports fuel through its Petrohaul division. With more than 550 locations, Parkland has developed a market niche in western and northern Canadian nonurban markets. To maximize value for its unitholders, the fund is focused on the continuous refinement of its retail portfolio, increased revenue diversification through growth in nonfuel revenues and active supply chain management, it said.
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