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Parkland Corporation
Parkland Corporation (formerly Parkland Fuel Corporation) is a Canadian energy and retail company based in Calgary, Alberta. Parkland operates gas stations under the Esso, Ultramar, Chevron, Pioneer, and Fas Gas Plus brands. 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, Columbia Fuels, Sparlings, and Ultramar brands.
It is the largest independent fuel retailing company in Canada, as well as the second-largest convenience store operator. It is listed on the Toronto Stock Exchange, with a market capitalization of $3.9 billion as of March 2018.
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. 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.
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 2013, Parkland acquired Elbow River Marketing, with 1,400 rail cars. In April of 2013, the company purchased Sparling's Propane, a Southwestern Ontario propane retailer. In late 2014, it announced the acquisition of Pioneer Energy, an Ontario gas station chain with 393 stations, for $378 million. The purchase came as part of a larger acquisition strategy by the company, and expanded its retail footprint to 1,000 gas stations nationwide.
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.
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.
In 2017, Parkland acquired Chevron's Canadian downstream fuel operations for $1.5 billion. As part of the deal, the company acquired the Burnaby Refinery in Burnaby, British Columbia, and 129 Chevron gas stations in the province; this expanded Parkland's retail footprint to 1,800 locations.
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Parkland Corporation
Parkland Corporation (formerly Parkland Fuel Corporation) is a Canadian energy and retail company based in Calgary, Alberta. Parkland operates gas stations under the Esso, Ultramar, Chevron, Pioneer, and Fas Gas Plus brands. 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, Columbia Fuels, Sparlings, and Ultramar brands.
It is the largest independent fuel retailing company in Canada, as well as the second-largest convenience store operator. It is listed on the Toronto Stock Exchange, with a market capitalization of $3.9 billion as of March 2018.
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. 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.
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 2013, Parkland acquired Elbow River Marketing, with 1,400 rail cars. In April of 2013, the company purchased Sparling's Propane, a Southwestern Ontario propane retailer. In late 2014, it announced the acquisition of Pioneer Energy, an Ontario gas station chain with 393 stations, for $378 million. The purchase came as part of a larger acquisition strategy by the company, and expanded its retail footprint to 1,000 gas stations nationwide.
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.
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.
In 2017, Parkland acquired Chevron's Canadian downstream fuel operations for $1.5 billion. As part of the deal, the company acquired the Burnaby Refinery in Burnaby, British Columbia, and 129 Chevron gas stations in the province; this expanded Parkland's retail footprint to 1,800 locations.