Canadian convenience store chain and fuel retailer Parkland has announced its intention to sell 157 stores and fuel station assets across six provinces in the country.
The sites offer fuel brands such as Chevron, Ultramar, Pioneer and FasGas.
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The sale includes an option for buyers to operate under the On the Run convenience store banner.
Most of the sites for sale are in Quebec and Ontario, and include major metropolitan areas and smaller communities.
The remaining locations are in Alberta, British Columbia, Manitoba and Saskatchewan.
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These retail and fuel locations come with the added benefit of long-term fuel supply agreements with Parkland.
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By GlobalDataParkland Canadian retail operation vice-president Francis Lapointe said: “The decision to divest these locations is part of our ongoing network planning and optimisation process. As we continue to grow, we have identified sites that no longer fit our long-term strategic objectives in their current format. These sales will provide us with new opportunities to bolster core areas of our business.
“In the end, these sites will still be part of our network and will represent our strong brands within our communities. We’re excited to bring in experienced, entrepreneurial operators who are eager to partner with brands and programmes that customers trust.”
Interested convenience store operators, small business owners and entrepreneurs can participate in the sale, which allows bids on single or multiple sites through a sealed bid process.
Parkland has engaged NRC Realty & Capital Advisors and Colliers Canada, specialists in the marketing of convenience store properties, to facilitate the transactions.
