Parkland puts 157 convenience store up for sale in Canada

The assets are planned to be sold alongside long-term fuel supply agreements with the buyers.

Parkland Corp. is selling 157 convenience stores and gas stations across six provinces in Canada.

According to a recent report by the Financial Post, these are locations primarily located in Quebec and Ontario, which operate under the Chevron, Ultramar, Pioneer and FasGas brands. The sites also have the company’s own On the Run convenience store concept.

The remaining locations are based in Alberta, British Columbia, Manitoba and Saskatchewan. All facilities are set to be packaged with long-term Parkland fuel supply agreements.

“As we continue to grow, we have identified sites that no longer fit our long-term strategic objectives in their current format. While high-quality, these locations would be better suited under someone else’s ownership,” stated Francis Lapointe, vice-president of Canadian retail operations at Parkland.

Parkland’s portfolio is currently composed of 4,000 locations in Canada, the United States and the Caribbean. In addition, the company operates a refinery in Burnaby, B.C., supplying approximately a quarter of the gasoline and diesel consumed in the western province.