Parker’s Energy, a division of Parker’s and CStore Decisions 2020 Convenience Store Chain of the Year, said it has entered into an acquisition agreement with Parkland through its U.S.-based subsidiaries, Parkland USA. Parkland is one of the fastest growing independent suppliers and marketers of fuel and petroleum products in North America and the Caribbean.
Headquartered in Savannah, Ga., Parker’s Energy is a leading wholesale fuel marketer with supply business throughout the Southeastern U.S. that creates value through distinct supply relationships and optimization processes. This deal, the company told CStore Decisions, will allow it to focus on growing its award-winning retail operations.
“We’re delighted that Parkland is acquiring the Parker’s Energy wholesale fuel division and are confident that this acquisition will benefit existing customers,” said Greg Parker, founder and CEO of Parker’s. “Parkland has a strong track record in the wholesale fuel distribution industry, an impressive resource base and private terminals to accommodate customer demand. Parkland will leverage its great resources to continue to provide great service to Parker’s Energy customers in Georgia, South Carolina, North Carolina, Virginia, Florida, Tennessee, Kentucky, Alabama, Texas, Maryland and New Jersey.”
The acquisition is expected to close in the fourth quarter.
Parker’s Energy will operate under Parkland USA’s US Supply Corp (USSC) division, located in Houston. USSC serves as the supply and trading platform for the United States and works in collaboration with its Canadian and International regions to offer a supply advantage to its customers throughout Parkland.
Parker’s is strategically redefining the nation’s convenience store industry, offering customers high-quality products, freshly prepared food and superior customer service at retail stores throughout southeast Georgia and South Carolina. Parker’s has a commitment to exceeding customer expectations and has repeatedly been recognized as one of the nation’s leading convenience store and foodservice companies. Parker’s Kitchen, the popular food-centric brand under the Parker’s umbrella, serves world-famous hand-breaded Southern Fried Chicken Tenders as well as made-from-scratch mac ‘n’ cheese, a breakfast bar and daily specials. The company’s popular Parker’s Rewards loyalty program, which includes more than 300,000 members, has saved Parker’s customers more than $15 million to date.
Parkland itself is a leading convenience store operator and independent supplier and marketer of fuel and petroleum products. The company has experienced rapid growth over the past 36 months. It services customers across Canada, the U.S., the Caribbean region and the Americas through three channels: retail, commercial and wholesale.