Parkland expands into Ontario with the acquisition of NOCO Energy Fuel marketing business

Transaction adds 56 independent retail locations and 69 wholesale accounts in the province and introduces Parkland to the Sunoco brand


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RED DEER, AB, April 24 /CNW/ - Parkland Income Fund (TSX: PKI.UN)
announced today that it has reached agreement to acquire the fuel supply and
marketing business of NOCO Energy Canada Inc. for $8.5 million. 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 litres in 2007.
    Parkland President and CEO Mike Chorlton 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."
    "Additionally, the transaction expands our multi-brand strategy with the
introduction of Sunoco, which holds a strong brand position in this market.
Both Esso and Sunoco provide us with a platform for further expansion in the
region. Ontario has a significant number of small, independent fuel marketers,
and Parkland will be well-positioned to participate in future consolidation."
    In Ontario, Sunoco has a strong distribution network, a differentiated
fuel offering in high-octane gasoline and premium diesel and a growing loyalty
program. Esso is a well recognized and respected national brand with strong
loyalty and marketing programs.
    As the Esso retail branded distributor (RBD) in Alberta, Saskatchewan and
part of British Columbia, Parkland purchases branded products from Imperial
Oil and performs all marketing functions previously performed by Imperial Oil
to 180 stations in its dealer network in the three provinces. The Fund began
its RBD relationship with Imperial Oil in 2005.
    The acquisition is expected to be immediately accretive to the Fund's
distributable income per unit. The all-cash transaction is expected to close
at the end of May. It remains subject to customary commercial closing
conditions and regulatory approvals.

    About Parkland Income Fund

    Parkland Income Fund currently operates retail and wholesale fuels and
convenience store businesses under its Fas Gas Plus, Fas Gas, Race Trac Fuels
and Short Stop Food Stores brands and through independent branded dealers, and
transports fuel and other products through its Distribution division. With
approximately 530 locations, Parkland has developed a strong market niche in
western and northern Canadian non-urban markets. The Fund supplies propane,
bulk fuel, heating oil, lubricants, industrial fluids, agricultural inputs and
associated services to commercial and industrial customers in Alberta, British
Columbia and the Yukon Territory under the Neufeld, Joy, United Petroleum and
Great Northern Oil brands.
    Additionally, Parkland operates the Bowden refinery near Red Deer,
Alberta as a storage and contract-processing site. The Fund is also a 25
percent joint venture partner in a study, due to be completed by the end of
2008, to determine the feasibility of building a $300 million facility to
refine condensate into petroleum and other products.
    Parkland is focused on creating and delivering value for its unitholders
through the continuous refinement of its site portfolio, increasing revenue
diversification through growth in non-fuel revenues and active supply chain
management.
    The Fund's units trade on the Toronto Stock Exchange (TSX) under the
symbol PKI.UN. For more information, visit www.parkland.ca.

    If you prefer to receive Company news releases via e-mail, please request
    at corpinfo@parkland.ca.




For further information: Red Deer: Mike W. Chorlton, President and CEO,
(403) 357-6400; John G. Schroeder, Vice President and CFO, (403) 357-6400