The acquisition provides a key platform for expansion of Parkland's business and operations in the United States
CALGARY, Alberta, Aug. 27, 2018 (GLOBE NEWSWIRE) -- Parkland Fuel Corporation (“Parkland”, “We”, “Our” or “Us”) (TSX:PKI) is pleased to announce that Parkland, through a U.S.-based subsidiary, has successfully completed the previously announced acquisition of all of the issued and outstanding equity interests of Rhinehart Oil Co., Inc. and its affiliates, a retail, commercial and lubricants business with operations in Utah, Colorado, Wyoming and New Mexico. Please see Parkland's press release dated August 13, 2018 for more information about this transaction.
About Parkland Fuel Corporation
Parkland is Canada's largest and one of North America's fastest growing independent suppliers and marketers of fuel and petroleum products and a leading convenience store operator. Parkland services customers through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating the Parkland Burnaby Refinery, and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings, including its On the Run/Marché Express banners, in the communities it serves.
Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.