Parkland Fuel Corp., through its wholly owned U.S. subsidiaries, Parkland USA, has completed the acquisition of the assets of Mort Distributing Inc. and its affiliates.
Founded in 1958, Mort is a family-owned marketer and distributor of fuels and lubricants serving retail, commercial and wholesale customers.
Mort’s operations are focused in Montana, which will enable Parkland to further capture distribution efficiencies and enhance customer service across its Northern Tier Regional Operating Center.
“This acquisition is consistent with our U.S. growth strategy and will complement and strengthen our existing Northern Tier ROC,” said Doug Haugh, President of Parkland USA. “We look forward to welcoming the Mort team into Parkland and to continuing to deliver high-quality products and excellent service to Mort’s broad customer base.”
The acquisition will primarily be funded from cash from operations. Pro forma the acquisition, Parkland expects a modest increase in annual run-rate adjusted EBITDA for its USA segment.
Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the U.S., the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale.
Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.