Parkland Co. has agreed to acquire all of the assets of Urbieta Oil Co. This acquisition complements Parkland’s existing Florida commercial business by establishing a large retail and convenience growth platform with high-quality real estate in Miami.
“This acquisition advances our growth strategy to increase our convenience retail presence in a region where we have had success with fuel supply and commercial operations,” said Doug Haugh, president of Parkland USA. “Adding the Urbieta stores nearly doubles our U.S. retail business, provides immediate scale in a resilient, fast-growing market, and creates opportunity to meet customers’ needs through our ON the RUN convenience brand”.
Headquartered in Medley, Fla. Urbieta Oil began in 1974 as a family-owned business and today operates or supplies fuel to 98 gas stations and runs a fleet comprised of 20 tanker trailers and 12 tankwagons. The company serves Florida counties Miami-Dade, Broward, Palm Beach and Monroe. Urbieta Oil represents Marathon, Valero and its own proprietary U-Gas label.
“In addition to adding an exceptional team, this acquisition provides a springboard for growth in the southern Florida market with close proximity to our Caribbean business,” added Haugh. “The fragmented U.S. market presents a long runway of consolidation opportunities for Parkland to build scale, and better serve our customers. We will remain disciplined in our appraisal of the opportunities we see in front of us.”
Parkland is a convenience store operator and independent supplier and marketer of fuel and petroleum products. Parkland services customers across Canada, the U.S., the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale.