Canadian major fuel marketer and convenience store operator Parkland Corp. has purchased the retail c-stores of family-owned energy and lubricant distributor Crevier Group. The agreement covers Crevier’s network which includes 174 service stations – 138 retailer-owners and 36 corporate stations – as well as the wholesale activities to commercial, industrial and reseller customers.
“This acquisition extends our existing retail network in Quebec and expands our presence in key markets,” explained Donna Sanker, president of Parkland Canada. “We believe we can add significant value by deploying our proven retail capabilities, proprietary Marche Express (ON the RUN) convenience and Ultramar forecourt brands, and JOURNIE Rewards loyalty program.”
Parkland has operations across Canada, the United States, the Caribbean and Central and South America.
Crevier Group believes it has made the best choice for its employees, customers and retailers, as Parkland has the expertise, supply capabilities and financial resources to create value and strengthen the business.
“Thanks to the skills and commitment of our employees, we are leaving Parkland with a well-established and forward-looking service station network and wholesale division,” said Crevier Group President Jean-François Crevier. “This transaction will allow the fuel division to continue to grow and become even more efficient.”
In a statement, the company said the decision was made for to provide better opportunities for the future and development of Pétroles Crevier, and to allow Crevier Group to continue to grow and make its mark as a leader in the field of lubricants and distribution throughout the country.
For its part, Jean-Francois Crevier explained, the decision allows his company to focus on its lubricants subsidiary companies, Catalys Lubricants and Crevier Lubrifiants, continuing its growth and consolidating its leadership position in the Canada-wide market.
A new warehouse is already in operation in Edmonton and other openings are expected in the coming months. The revenues from the sale will allow Crevier Group to accelerate its development and to anchor its presence on the Canadian market thanks to its solid distribution platform.
The sale is expected to close in the first quarter of 2022 and is subject to approval under the Canadian Competition Act.