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{{Short description|Canadian fuel station and convenience store chain}}

factoids

S&P/TSX Composite ComponentConvenience store>Retail (Convenience stores)Fuel Retailing| founded = | former_names = Parkland Beef IndustriesParkland IndustriesParkland Fuel Corporation| founder = Jack Donald| subsid = Fas Gas PlusPioneer EnergyUltramarM&M Food MarketChevron Corporation>Chevron (Canadian retail)Corner Store59th Street Food CompanyOn the RunRaceTrac GasSuperpumper| hq_location_city = Calgary, Alberta| hq_location_country = CanadaPresident (corporate title)>President and Chief executive officer) Jorge Jimenez Neubauer Torres (Chairman and Chief Investment Officer)| website = {{Official URL}}}}Parkland Corporation (formerly Parkland Fuel Corporation) is a Calgary, Alberta-based energy and retail company. Parkland operates gas stations under the Pioneer, Columbia Fuels, Ultramar, Chevron, and Fas Gas Plus brands, as well as franchised Esso locations. The company holds the rights to the convenience store brand On the Run in Canada and most of the United States, and franchises White Spot’s fast food restaurant chain Triple O’s in Alberta, British Columbia, and Ontario. Parkland also operates commercial oil and gas businesses under the Bluewave Energy, Sparlings, and Ultramar brands.It is the largest independent fuel retailing company in Canada,NEWS,www.albertaoilmagazine.com/2013/08/parkland-fuel-alberta-dream/, How Parkland Fuel Corp. became Canada’s largest independent fuel distributor - Alberta Oil Magazine, 2013-08-05, Alberta Oil Magazine, 2018-03-16, en-US, as well as the second-largest convenience store operator.NEWS,www.theglobeandmail.com/report-on-business/big-deals/the-next-couche-tard-shrewd-acquisitions-create-new-alberta-powerhouse/article38264219/, The next Couche-Tard? Shrewd acquisitions create new Alberta powerhouse, 2018-03-10, The Globe and Mail, 2018-03-16, B9, It is listed on the Toronto Stock Exchange, with a market capitalization of $3.9 billion as of March 2018.

History

Parkland Industries was founded as Parkland Beef Industries, a publicly traded cattle feedlot. In 1975, it was acquired by Jack Donald, and renamed Parkland Industries. Donald had previously founded and sold a chain of retail gas stations called Parkland Oil Products Ltd.WEB,www.lieutenantgovernor.ab.ca/aoe/business/jack-donald/index.html, Jack C. Donald {{!, The Alberta Order of Excellence|website=www.lieutenantgovernor.ab.ca|language=en-US|access-date=2018-03-16}} At Parkland Industries, Donald pivoted the company from cattle to fuel retailing; it established Fas Gas Plus, a western Canadian gas station chain, in 1977. In its early years, the company was headquartered in Red Deer, Alberta; it moved to Calgary in the mid-2010s.NEWS,calgaryherald.com/business/energy/varcoe-parkland-fuel-keeps-growing-amid-fuel-sector-shakeup, Varcoe: Parkland Fuel keeps growing amid fuel sector shakeup, 2017-10-03, Calgary Herald, 2018-03-17, en-US, In the following 30 years, the company grew significantly, in the context of offloading of retail gas operations by larger, integrated oil companies. By the end of 2012, the company had 720 gas stations and $4.1 billion in annual revenue. In 2010, it renamed itself Parkland Fuel Corporation. In 2020, it renamed itself to Parkland Corporation.REPORT, 31 Mar 2021, Q1 2021 Management’s Discussion and Analysis,www.parkland.ca/application/files/4216/2007/4276/MDA_Q1_2021_-_Final_-_w_cover.pdf, Parkland Corporation, In 2013, Parkland acquired Elbow River Marketing, with 1,400 rail cars.NEWS,calgaryherald.com/business/rail+rules+park+some+Parkland+tankers/9811953/story.html, New rail rules to park some Parkland oil tankers, Healing, Dan, www.calgaryherald.com, 2018-03-16, en-ca, in late 2014, it announced the acquisition of Pioneer Energy, an Ontario gas station chain with 393 stations, for $378 million.NEWS,www.reuters.com/article/parkland-fuel-pioneer-ma/parkland-fuel-corp-to-buy-canadas-pioneer-energy-idUSL1N0RI2YK20140917, Parkland Fuel Corp to buy Canada’s Pioneer Energy, 2014-09-17, Reuters, 2018-03-16, The deal increased the company’s station count to over 1000, and was part of a larger acquisition strategy by the company.NEWS,business.financialpost.com/commodities/energy/why-alberta-based-parkland-fuel-corp-is-in-no-rush-to-see-oil-prices-rise, Why Alberta-based Parkland Fuel Corp is in no rush to see oil prices rise, 2016-03-14, Financial Post, 2018-03-16, en-US, In August 2016, the company announced the acquisition of most of CST Brands’ Canadian assets for $965 million, as part of that company’s acquisition by Alimentation Couche-Tard for $4 billion. This included the majority of the Ultramar chain, including 490 retail locations and 72 cardlocks in Ontario, Quebec and Atlantic Canada. The sale gave Parkland a total of just over 1,500 retail locations.NEWS,www.theglobeandmail.com/report-on-business/parkland-to-buy-csts-canadian-assets-in-965-million-deal/article31496253/, Parkland to buy CST’s Canadian assets from Couche-Tard in $965-million deal, 2016-08-22, The Globe and Mail, 2018-03-16, WEB,www.ctvnews.ca/business/couche-tard-gets-us-4-4-billion-deal-with-cst-brands-1.3038213, Couche-Tard gets US$4.4-billion deal with CST Brands; Parkland Fuels gets a piece, 22 August 2016, Canadian Press, 2019-06-30, WEB,www.cspdailynews.com/mergers-acquisitions/parkland-acquire-most-csts-canadian-assets, Parkland to Acquire Most of CST’s Canadian Assets, August 22, 2016, Greg, Lindenberg, CSP Daily News, en, 2019-06-30, As part of Imperial Oil’s exit from retail location ownership, Parkland also acquired the remaining On the Run franchise network, Canadian trademarks, and 17 Esso-branded gas stations.WEB,www.canadianfuels.ca/ASR-Fuels-2017/Whats-in-a-name/, What’s in a name?, Dudley, Stewart, Canadian Fuels Association, September 23, 2018, NEWS,www.cbc.ca/news/canada/calgary/imperial-oil-esso-sales-1.3482381, Imperial Oil to sell Esso stations for $2.8B, CBC News, 2018-09-23, en-US, In 2017, Parkland acquired Chevron’s Canadian downstream fuel operations for $1.5 billion.NEWS,www.cbc.ca/news/canada/calgary/parkland-fuel-buying-chevron-canada-fuel-business-for-nearly-1-5-billion-1.4074875, Canada’s largest fuel retailers buys Chevron Canada assets in B.C. for $1.5B, CBC News, 2018-03-16, en, As part of the deal, the company acquired the Burnaby Refinery in Burnaby, British Columbia, and increased its station count to 1800.NEWS,www.richmond-news.com/news/the-big-squeeze-pain-ahead-if-alberta-cuts-oil-flow-to-b-c-1.23206419, The big squeeze: pain ahead if Alberta cuts oil flow to B.C., Richmond News, 2018-03-21, en, In October 2018, Parkland announced it would acquire 75% of SOL Investments, a retail gas station operator based in the Caribbean, for $1.57 billion.NEWS,business.financialpost.com/commodities/energy/parkland-fuel-to-buy-75-pct-in-fuel-marketer-sol-investments-for-c1-57-bln, Parkland Fuel to buy 75% stake in Caribbean fuel marketer SOL Investments for $1.57 billion, 2018-10-10, Financial Post, 2018-10-15, en-US, In February 2020, Parkland renewed its agreement with British Columbia-based restaurant chain White Spot to operate Triple-O’s locations as part of its Town Pantry (Chevron) and On the Run-branded convenience stores, with plans to extend the chain into Alberta and Ontario as well.WEB, Parkland expands foodservice offering with Triple O’s restaurant deal,ccentral.ca/parkland-extends-relationship-with-triple-os-restaurants, 2022-08-26, CCentral, en, In September 2020, Parkland USA acquired from Couche-Tard the rights to the On the Run brand in most U.S. states, with an intent to further-expand the chain into a North American operation.WEB, September 10, 2020, Greg, Lindenberg, Parkland to Expand On the Run in the U.S.,cspdailynews.com/company-news/parkland-expand-run-us, 2022-08-03, CSP Daily News, en, In 2021, Parkland acquired 156 gas stations from Husky Energy for $156 million. These stations are located on Vancouver Island as well as the metropolitan areas of Calgary, Toronto and Vancouver.WEB, Lindenberg, Greg, December 1, 2021, Parkland, Federated Co-operatives Split Up 337 Husky Stations,cspdailynews.com/mergers-acquisitions/parkland-federated-co-operatives-split-337-husky-stations, 2022-07-14, CSP Daily News, en, In January 2022, Parkland acquired frozen-food retailer M&M Food Market for $332 million. The purchase was part of a broader foray into food service by Parkland, in order to diversify its business beyond fuel retail (especially amid the growth of the electric vehicle market). Parkland planned to offer M&M products as part of On the Run’s product line, while also maintaining its standalone locations and other distribution agreements.WEB, 2022-01-19, Parkland Corp. buying M&M Food Market for $322 million,www.ctvnews.ca/business/parkland-corp-buying-m-m-food-market-for-322-million-1.5746017, 2022-08-26, CTVNews, en, NEWS, Robertson, Susan Krashinsky, 2022-01-18, Gas station and convenience store owner Parkland Corp. buys M&M Food Market, en-CA, The Globe and Mail,www.theglobeandmail.com/business/article-gas-station-and-convenience-store-owner-parkland-corp-buys-mm-food/, 2022-08-26, In late October 2022, Parkland announced a deal with U.S.-based EV charger company FreeWire Technologies to install EV chargers at 25 locations across British Columbia.WEB, Tyler, Tim, 2022-10-28, FreeWire & Parkland Team Up To Bring Game-Changing Battery-Integrated Ultrafast EV Chargers,cleantechnica.com/2022/10/28/freewire-parkland-team-up-to-bring-game-changing-battery-integrated-ultrafast-ev-chargers/, 2022-10-29, CleanTechnica, en-US, WEB, Parkland to partner with U.S.-based FreeWire on EV charging network,ca.finance.yahoo.com/news/parkland-partner-u-based-freewire-152212181.html, 2022-10-29, ca.finance.yahoo.com, en-CA,

Operations

Parkland’s three businesses are retail gas stations, commercial fuel distribution, and fuel supply and wholesaling.Its retail gas station brands in Canada include (with number of sites owned or franchised, as of 2019Parkland Corp website, accessed 9 May 2022):

• Ultramar (634 sites, primarily in Atlantic Canada, Quebec, and Ontario),
• Esso (634 sites)
• FasGas (186 sites, primarily in Western Canada),
• Pioneer (170 sites, primarily in Ontario),
• Chevron (193 sites, primarily in British Columbia and parts of Alberta)
• Race Trac (58 sites) — a franchised brand with independently run locations (unrelated to the U.S. chain RaceTrac)
• 29 other sites

As of the end of 2019, the company has 1863 stations in its network, of which it owns 641. Unlike gas retailing operations owned by integrated oil and gas companies, which generally buy from a single supplier, Parkland sources its fuel from multiple suppliers. In October 2019, Parkland partnered with CIBC to launch Journie, a loyalty program accepted at Chevron, FasGas, Pioneer, and Ultramar locations.WEB, Healing, Dan, 2019-11-05, The Lower Mainland’s sole supplier of motor fuel will be shut down for 8 weeks,bc.ctvnews.ca/the-lower-mainland-s-sole-supplier-of-motor-fuel-will-be-shut-down-for-8-weeks-1.4671416, 2022-08-26, British Columbia, en, WEB, Parkland partners with CIBC for new rewards program,ccentral.ca/parkland-partners-with-cibc-for-new-rewards-program, 2022-08-26, CCentral, en, In addition to its retail arm, Parkland distributes fuel, including propane, diesel, and heating oil, to mainly commercial customers. It operates under various brands, including Bluewave Energy, Sparlings, and Ultramar.WEB, Parkland 2017 Annual Report,www.parkland.ca/files/5715/1994/8713/MDA_Q4_2017_final.pdf, In British Columbia, Parkland has historically been a franchise of the local restaurant chain White Spot, operating Triple-O’s locations as part of its gas stations in the province. In 2016, Parkland acquired the On the Run brand and franchise network in Canada from Imperial Oil. The company has since begun to utilize On the Run in conjunction with its own retail petroleum brands to leverage its recognition, and introduced a refreshed version of the brand in 2018.NEWS,chestervillerecord.com/2018/03/01/bens-pioneer-gas-opens-new-premises/, Ben’s Pioneer Gas opens new premises, 2018-03-01, The Chesterville Record, 2018-09-23, en-US, Parkland began to expand the relaunched On the Run brand into the United States in 2020.NEWS,www.cspdailynews.com/company-news/parkland-expand-run-us, Parkland to expand On the Run in US, CSP Daily News, 2022-01-14, en-US, In January 2022, Parkland announced plans to establish a new concept for standalone On the Run convenience stores in high-traffic urban locations, which will feature M&M products.WEB, Parkland to open 50 standalone On the Run convenience stores,ccentral.ca/parkland-open-50-standalone-run-convenience-stores, 2022-08-26, CCentral, en,

References

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External links

• {{Official website}}