Wednesday, February 28, 2024
Parkland Corp. Putting 157 Convenience Stores in Canada Up For Sale
Sites include Chevron, Ultramar, Pioneer, FasGas fuel brands, with On the Run c-store opportunity
Source: CSP Daily News
By Greg Lindenberg, EditorParkland Corp. has begun the marketing process to sell 157 convenience-store and fuel station assets located in six provinces across Canada. The available sites consist of fuel brands such as Chevron, Ultramar, Pioneer and FasGas, and buyers could have the opportunity to operate under the On the Run c-store banner.
The bulk of the stations are located in Quebec and Ontario across major metropolitan areas and smaller cities and towns, with the balance of stores in Alberta, British Columbia, Manitoba and Saskatchewan.
The retail and fuel locations will be packaged with long-term Parkland fuel supply agreements. “The decision to divest these locations is part of our ongoing network planning and optimization process. As we continue to grow, we have identified sites that no longer fit our long-term strategic objectives in their current format. These sales will provide us with new opportunities to bolster core areas of our business,” said Francis Lapointe, vice president of Canadian retail operations.
“In the end, these sites will still be part of our network and will represent our strong brands within our communities,” he said. “We’re excited to bring in experienced, entrepreneurial operators who are eager to partner with brands and programs that customers trust.”
Convenience-store operators, small-business owners and entrepreneurs may bid on single or multiple sites through a sealed-bid sale process. Parkland has partnered with NRC Realty & Capital Advisors LLC, Chicago, a company specializing in the marketing of convenience-store properties, and Colliers Canada, Vancouver, to facilitate the transactions. The sale is being coordinated by Colliers and its marketing partner, NRC. Interested parties must register for the sale in order to view a list of properties, sale FAQs and review terms and conditions of sale by visiting the sale website at www.cstorebids.ca, or by calling 1-855-558-1601.
Parkland Corp., Calgary, Alberta, is a major independent supplier and marketer of fuel and petroleum products in Canada, the United States, the Caribbean and the Americas through retail, commercial and wholesale channels. It is the second-largest c-store operator in Canada, with 650 retail outlets and more than 1,830 dealer sites. It is the parent company of Parkland USA, which has more than 200 c-stores in the United States under brands like On the Run.