Parkland Corp. has agreed to acquire Pétroles Crevier Inc., a subsidiary of Crevier Group, a retail and wholesale fuels and lubricants business based in Montreal.
This is Parkland’s eighth acquisition in the last year. The deal includes 174 gas stations—36 company-owned retail locations and 138 retail dealer locations.
Parkland also expects this transaction to add annual fuel and petroleum product volume of approximately 185 million gallons, 70% attributable to wholesale. “This acquisition extends our existing retail network in Quebec and expands our presence in key markets,” said 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. We look forward to continuing to provide Crevier’s customers with essential products and exceptional service.”
Parkland has the expertise, supply capabilities and financial resources to create value and strengthen the business, said Crevier Group, which will focus on its lubricants business.
“We are leaving Parkland with a well-established and forward-looking service station network and wholesale division.
This transaction will allow the fuel division to continue to grow and become even more efficient. For our part, this decision allows us to focus on our lubricants subsidiary companies, Catalys Lubricants and Crevier Lubrifiants, continuing our growth and consolidating our leadership position in the Canada-wide market.”
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