The acquisition includes approximately 56 independently owned and operated Esso, Sunoco and NOCO branded locations and 69 wholesale accounts outside the Greater Toronto area. Collectively, this group had fuel volume sales of over 300 million liters in 2007.
The all-cash transaction is expected to close at the end of May 2008. It remains subject to customary commercial closing conditions and regulatory approvals.
Mike Chorlton, president and CEO of Parkland, said: With this transaction, Parkland is expanding its geographic presence into the Ontario market through the acquisition of a strong, successful operator in NOCO. We are moving east into new territory in a way that is consistent with our non-urban focus, growing total fuel volume at an affordable cost and building on the success of our branded distribution relationship with Imperial Oil.
