Mergers & Acquisitions

Parkland Fuel Acquires Rhinehart Oil

Deal includes 9 c-stores, provides platform for U.S. retail, commercial, wholesale expansion

CALGARY, Alberta -- Parkland Fuel Corp., through its U.S. subsidiary Parkland USA, has entered into an agreement to acquire all of the equity interests of Rhinehart Oil Co. Inc., a retail, commercial and lubricants business with operations in Utah, Colorado, Wyoming and New Mexico.

Rhinehart transports, distributes and markets fuels, lubricants and chemical products in addition to providing equipment and shop servicing. The American Fork, Utah-based company operates and supplies nine Harts Gas & Food convenience stores and four cardlock facilities, and it markets and distributes fuels, lubricants and specialties through 10 distribution facilities.

“The Rhinehart acquisition represents a significant expansion for Parkland,” said Bob Espey, president and CEO of Calgary, Alberta-based Parkland Fuel. “Rhinehart has an excellent business and asset base that will serve as a platform for growth in Utah, Colorado and neighboring states. We are excited to welcome Dave and John Jardine from the Rhinehart leadership team and the rest of the Rhinehart employees to the Parkland team.”

“Rhinehart is a prominent fuel distributor and a well-scaled and respected ExxonMobil lubricants distributor,” said Doug Haugh, president of Parkland USA, Atlanta.

“The addition of Rhinehart to the Parkland USA team provides us with the talented staff and scalable infrastructure we need to establish our regional operations center (ROC) for the Rocky Mountain tributary,” he said. “This ROC will be the operating platform that drives organic growth and enables further acquisitions across the region that can leverage substantial existing capacity within their current rail hubs, bulk storage terminal and warehouses.”

The company said it expects the acquisition to close on or about Aug. 27, funded with cash flows and capacity under Parkland's existing credit facility. It is subject to customary closing conditions.

Parkland is an independent refiner, supplier and marketer of fuel and petroleum products and a leading c-store operator. Using the Parkland Burnaby Refinery, it services customers through three channels: retail, commercial and wholesale.

Parkland 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. In the United States, Parkland owns Superpumper Inc., a regional c-store chain based in Minot, N.D. It was founded in 1983 and has 14 locations. In 1996, Superpumper merged with Farstad Oil Inc. to form SPF Energy Inc.

Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Foodservice

Opportunities Abound With Limited-Time Offers

For success, complement existing menu offerings, consider product availability and trends, and more, experts say

Snacks & Candy

How Convenience Stores Can Improve Meat Snack, Jerky Sales

Innovation, creative retailers help spark growth in the snack segment

Technology/Services

C-Stores Headed in the Right Direction With Rewards Programs

Convenience operators are working to catch up to the success of loyalty programs in other industries

Trending

More from our partners