Mergers & Acquisitions

Parkland Completes Acquisition of 129 Stations

Downstream deal includes refinery, cardlocks, more

CALGARY, Alberta -- Parkland Fuel Corp., a refiner and marketer with convenience-stores in Canada and the United States, has closed on its acquisition of Chevron Canada R&M ULC, which operates a downstream fuel business in British Columbia and Alberta.

“This acquisition provides Parkland with British Columbia’s strongest fuel-marketing business and will make Parkland the exclusive distributor of Chevron-branded fuels. With this acquisition, Parkland is also acquiring the Burnaby Refinery, a proven asset that directly supports our core fuel-marketing business in an important region, and enhances our supply advantage,” said Bob Espey, president and CEO of Parkland.

Along with the refinery, the acquisition includes 129 Chevron-branded gas stations principally located in the Vancouver, British Columbia, area; 37 commercial cardlock locations in British Columbia and Alberta; a wholesale aviation business serving the Vancouver International Airport; and three terminals located in Burnaby, Hatch Point and Port Hardy, British Columbia.

Calgary, Alberta-based Parkland delivers gasoline, diesel, propane, lubricants, heating oil and other petroleum products to motorists, businesses, households and wholesale customers in Canada and the northern tier of the United States. Its SPF Energy Inc., Minot, N.D., is the holding company for Superpumper Inc., which owns and operates 21 c-stores in North Dakota, Minnesota and Montana under the SuperPumper and SPF brands, and Farstad Oil Inc., which supplies and distributes about 250 million gallons of gasoline annually.

In November 2016, Parkland purchased three gas stations and c-stores in Wyoming from 7-Eleven Inc., Irving, Texas, including two truckstops and one gas station. “This acquisition will expand the Parkland USA presence in Wyoming by adding our first truckstops and retail stations in that state,” said Espey. “We are excited to service customers at these sites under the SPF banner.”

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