{"id":97194,"date":"2021-12-01T14:07:00","date_gmt":"2021-11-30T21:22:00","guid":{"rendered":"https:\/\/hispanicprwire.com\/english-parkland-to-expand-its-canadian-convenience-and-retail-fuel-network-with-acquisition-of-select-husky-branded-locations\/"},"modified":"2021-12-01T15:10:01","modified_gmt":"2021-12-01T19:10:01","slug":"parkland-ampliara-su-red-canadiense-de-tiendas-de-conveniencia-y-estaciones-de-combustible-con-la-adquisicion-de-algunos-locales-de-la-marca-husky","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/parkland-ampliara-su-red-canadiense-de-tiendas-de-conveniencia-y-estaciones-de-combustible-con-la-adquisicion-de-algunos-locales-de-la-marca-husky\/","title":{"rendered":"Parkland to expand its Canadian convenience and retail fuel network with acquisition of select Husky branded locations"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">CALGARY, AB<\/span>, <span class=\"xn-chron\">Nov. 30, 2021<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0Parkland Corporation (&#8220;Parkland&#8221;, &#8220;we&#8221;, the &#8220;Company&#8221;, or &#8220;our&#8221;) (TSX: PKI), a leading consolidator of convenience retail and fuel marketing businesses, announced today it has entered into an agreement to acquire approximately 156 retail locations, from Cenovus Energy Inc. (&#8220;the Acquisition&#8221;). This Acquisition bolsters Parkland&#8217;s existing Canadian convenience retail network by adding high-quality retail locations in <span class=\"xn-location\">Greater Vancouver<\/span>, Vancouver Island, <span class=\"xn-location\">Calgary<\/span>, and the <span class=\"xn-location\">Greater Toronto<\/span> area. <\/p>\n<div id=\"prni_dvprnejpg5745left\" style=\"WIDTH: 100%; TEXT-ALIGN: left\" dir=\"ltr\"><img decoding=\"async\" id=\"prnejpg5745left\" title=\"Parkland Corporation Logo\" style=\"HEIGHT: 51px; WIDTH: 227px\" border=\"0\" alt=\"Parkland Corporation Logo\" align=\"middle\" src=\"https:\/\/mma.prnewswire.com\/media\/1699502\/Parkland_Corporation_Parkland_to_expand_its_Canadian_convenience.jpg\" imagelabel=\"General\"\/><\/div>\n<p>&#8220;This acquisition is a natural fit for Parkland,&#8221; said <span class=\"xn-person\">Donna Sanker<\/span>, President Parkland Canada. &#8220;Consistent with our recently announced strategy to develop our retail network in key Canadian markets and diversify our retail business to better serve our customers, it provides an opportunity to create convenience destinations by expanding our ON <i>the<\/i> RUN convenience brand, enhancing food offerings, and strengthening the Parkland national network for JOURNIE\u2122 Rewards.&#8221; <\/p>\n<p>This Acquisition includes 109 company owned sites and 47 dealer locations and is expected to add annual fuel volumes of approximately 400 million litres to our network.\u00a0 <\/p>\n<p>&#8220;The Acquisition is a unique opportunity to expand our coverage in markets where Parkland has an existing supply advantage and offsets a portion of our planned organic growth capital,&#8221; added Sanker. &#8220;We will convert a significant number of the company owned sites to ON <i>the<\/i> RUN and accelerate our plan to build a network of over 1,000 ON <i>the<\/i> RUN locations in <span class=\"xn-location\">Canada<\/span> and the U.S. by 2025.&#8221;<\/p>\n<p>The total cash consideration for this transaction is approximately <span class=\"xn-money\">$156 million<\/span> and reflects a post-synergy multiple consistent with certain prior transactions of approximately 5 times. Subject to approval under the <i>Competition Act<\/i> (<span class=\"xn-location\">Canada<\/span>) and other closing conditions, the transaction is expected to close in mid-2022.<\/p>\n<p><b>About Parkland Corporation<br \/><\/b>Parkland is a leading convenience store operator and independent supplier and marketer of fuel and petroleum products. Parkland services customers across <span class=\"xn-location\">Canada<\/span>, <span class=\"xn-location\">the United States<\/span>, the <span class=\"xn-location\">Caribbean<\/span> region, and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves. <\/p>\n<p>Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage, and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community, and respect, which are embraced across our organization.<\/p>\n<p><b>Forward Looking Statement<br \/><\/b>Certain statements contained in this news release constitute forward-looking information and statements (collectively, &#8220;forward-looking statements&#8221;). When used in this news release the words &#8220;expect&#8221;, &#8220;will&#8221;, &#8220;could&#8221;, &#8220;would&#8221;, &#8220;believe&#8221;, &#8220;continue&#8221;, &#8220;pursue&#8221; and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the successful completion of the Acquisition and the timing thereof; expected benefits of the acquisition, including potential organic growth, creating convenience destinations, Parkland&#8217;s ability to expand its\u00a0ON <i>the<\/i> RUN convenience brand, enhancing its food offer and JOURNIE\u2122 Rewards loyalty program, the expected product volume resulting from the transaction, offset of planned organic growth capital and a post-synergy multiple of approximately 5 times.<\/p>\n<p>These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as may be required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, failure to complete the Acquisition; failure to satisfy the conditions to closing of the Acquisition, including approval under the\u00a0<i>Competition Act\u00a0<\/i>(<span class=\"xn-location\">Canada<\/span>); failure to realize all or any of the anticipated benefits of the Acquisition; general economic, market and business conditions; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities and other regulators including but not limited to increases in taxes or restricted access to markets; changes and developments in environmental and other regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in &#8220;Forward-Looking Information&#8221; and &#8220;Risk Factors&#8221; included in Parkland&#8217;s Annual Information Form dated <span class=\"xn-chron\">March 5, 2021<\/span>, and &#8220;Forward-Looking Information&#8221; and &#8220;Risk Factors&#8221; included in the Q3 2021 MD&amp;A dated November\u00a02, 2021 and the Q4 2020 MD&amp;A dated <span class=\"xn-chron\">March 4, 2021<\/span>, each filed on SEDAR and available on the Parkland website at\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3374820-1&amp;h=3190350508&amp;u=http%3A%2F%2Fwww.parkland.ca%2F&amp;a=www.parkland.ca\" rel=\"nofollow\">www.parkland.ca<\/a>.\u00a0<\/p>\n<p>Investor and Media Inquiries: Investor Inquiries: <span class=\"xn-person\">Valerie Roberts<\/span>, Director, Investor Relations, 403-956-9282, <a target=\"_blank\" href=\"mailto:Valerie.Roberts@parkland.ca\" rel=\"nofollow\">Valerie.Roberts@parkland.ca<\/a>; Media Inquiries: <span class=\"xn-person\">Simon Scott<\/span>, Director, Corporate Communications, 403-956-9272, <a target=\"_blank\" href=\"mailto:Simon.Scott@parkland.ca\" rel=\"nofollow\">Simon.Scott@parkland.ca<\/a><\/p>\n<p>Logo &#8211; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3374820-1&amp;h=2714725537&amp;u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1699502%2FParkland_Corporation_Parkland_to_expand_its_Canadian_convenience.jpg&amp;a=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1699502%2FParkland_Corporation_Parkland_to_expand_its_Canadian_convenience.jpg\" rel=\"nofollow\">https:\/\/mma.prnewswire.com\/media\/1699502\/Parkland_Corporation_Parkland_to_expand_its_Canadian_convenience.jpg<\/a><\/p>\n<p\/>\n<p>SOURCE  Parkland Corporation<\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">CALGARY, AB<\/span>, <span class=\"xn-chron\">Nov. 30, 2021<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0Parkland Corporation (&#8220;Parkland&#8221;, &#8220;we&#8221;, the &#8220;Company&#8221;, or &#8220;our&#8221;) (TSX: PKI), a leading consolidator of convenience retail and fuel marketing businesses, announced today it has entered into an agreement to acquire approximately 156 retail locations, from Cenovus Energy Inc. (&#8220;the Acquisition&#8221;). This Acquisition bolsters Parkland&#8217;s existing Canadian convenience retail network by adding high-quality retail locations in &lt;span&#8230;<\/p>\n","protected":false},"author":1,"featured_media":97195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-97194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/97194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=97194"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/97194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media\/97195"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=97194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=97194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=97194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}