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Mergers & Acquisitions

Parkland Fuel to Acquire KB Oil

Deal part of U.S. growth strategy
KB Oil logo

CEDAR CITY, Utah  In a deal that will boostits retail presence in the United States, Parkland Fuel Corp., Calgary, Alberta, has entered into an agreement through its U.S. subsidiary Parkland USA to acquire Ken Bettridge Distributing Inc.

Known as KB Oil, the company is a bulk fuel and lubricants distributor and operator of fleet fueling, convenience stores and cardlock services in southwestern Utah and southeastern Nevada. It has nine c-stores and approximately 160 employees. KB Oil will operate under Parkland USA, Cedar City, Utah. Calgary, Alberta-based Parkland Fuel will incorporate KB Oil into its Rockies Regional Operating Center (ROC) in American Fork, Utah, with Rhinehart Oil serving as the operating entity.

“KB Oil has long been a respected and admired provider of bulk fuels and lubricants in the region and is an expert in the trucking industry. Parkland will be able to leverage its resources to better serve customers throughout Utah and Nevada,” said John Jardine, vice president of Parkland USA and general manager of the Rockies ROC. “The acquisition of KB Oil follows on our U.S. growth strategy by establishing scale through the addition of strong local operators.”

“We’ve been a family-owned business for more than 40 years, and the professional business model and culture of Parkland appealed to us as we looked to sell,” said Stacey Bettridge, co-president of KB Oil.

“Our customers will benefit from the increased resources Parkland can provide, and this in turn will contribute to Parkland’s continued organic growth efforts,” said Rand Bettridge, co-president of KB Oil.

Parkland USA has 45 convenience stores and 220 dealers in 11 states. It owns 31 Superpumper locations in North Dakota, Montana, Wyoming and Minnesota; nine Harts Food & Gas locations in Utah and Colorado; and five MVP locations in North Dakota. The dealers operate under the Sinclair, Exxon, Phillips 66, Arco, Cenex and Chevron brands.

Parkland Fuels is an independent supplier and marketer of fuel and petroleum products and a major c-store operator. It has customers in Canada, the United States, the Caribbean and the Americas through three channels: retail, commercial and wholesale.

Parkland Fuels owns, operates or supplies stations under the Chevron, Esso, On the Run, Marche Express, Fas Gas Plus, Pioneer, RaceTrac and Ultramar brands in Canada. It acquired most of the Canadian business and assets of CST Brands Inc. from Laval, Quebec-based Alimentation Couche-Tard Inc. in June 2017.

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