CALGARY, Alberta — Parkland Fuel Corp., through its Parkland USA subsidiary, has entered into an asset agreement to acquire seven ConoMart Super Stores in the Billings, Mont., area from GM Petroleum.
The locations, in Billings, Laurel and Joliet, Mont., offer Conoco-branded fuel. The deal brings Parkland USA’s U.S. store count to 57.
“This acquisition expands our Montana business and scales our existing Northern Tier Regional Operating Center,” said Doug Haugh, president of Parkland USA, Calgary, Alberta. “ConoMart Super Stores is a well-run, customer-focused business, and we look forward to welcoming the team to Parkland.”
The company expects the transaction to close in second-quarter 2020, and it is subject to customary closing conditions.
Billings, Mont.-based GM Petroleum was founded in 1964.
- Parkland Fuel is No. 154 in CSP’s2019 Top 202 ranking of convenience-store chains by total number of company-operated U.S. retail locations.
Parkland Fuel is an independent supplier and marketer of fuel and petroleum products and convenience-store operator in Canada, the United States, the Caribbean and the Americas through retail, commercial and wholesale channels.
In Canada, Parkland Fuels owns, operates or supplies stations under the brands Chevron, Esso, On the Run, Marche Express, Fas Gas Plus, Pioneer, Race Trac (not to be confused with RaceTrac Petroleum in the United States) and Ultramar. It acquired most of the Canadian business and assets of CST Brands Inc. from Laval, Quebec-based Alimentation Couche-Tard Inc. in June 2017.
Parkland Fuel’s subsidiary Parkland USA has operations in 13 mostly Western U.S. states. Brands include Farstad Oil, Superpumper, Harts and Rhinehart Oil. Its 50 company-owned stores include 32 Superpumper locations in North Dakota, Montana, Wyoming and Minnesota; nine Harts Stores in Utah and Colorado; and nine KB Oil locations in Utah. It has 220 dealers under the Sinclair, Exxon, Phillips66, Arco, Cenex and Chevron brands, as well as approximately 20 commercial locations.