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“We are excited to expand the On the Run convenience store brand across the
The strategic rationale for this acquisition includes:
- Expanding On the Run across the
U.S. to create a unified North American convenience brand; - Capturing efficiencies through common brand collateral, product assortments, private label product ranges and operational continuity;
- Opportunity to rebrand our existing
U.S. convenience stores and efficiently incorporate the On the Run convenience brand to newly developed sites; - Greater optionality and a strong convenience store foundation for future
U.S. M&A activities; - Support the organic growth of our dealer business by providing an enhanced, bundled offer that combines a leading convenience store brand with multiple forecourt fuel brands.
“The On the Run retail brand provides a solid platform for our continued
Through this acquisition, Parkland has acquired, for a one-time fee, the perpetual license for the exclusive use of the On the Run trademark in the majority of
About
Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across
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.
Forward Looking Statements
Certain statements contained in this news release constitute forward-looking information and statements (collectively, "forward-looking statements"). In particular, this news release contains forward-looking statements with respect to, among other things, Parkland's growth strategy with respect to the On the Run brand; Parkland's ability to create a unified On the Run convenience store brand, including Parkland's opportunity to rebrand existing sites and incorporate the On the Run brand to new sites; Parkland's opportunity to incorporate the On the Run brand to its dealer business; and the expected enhanced customer experience from Parkland's use of the On the Run brand.
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 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, Parkland's ability to execute its strategy with respect to the On the Run brand in
For Further Information
Investor Inquiries
Brad Monaco
Director, Capital Markets
587-997-1447
Brad.Monaco@parkland.ca
Media Inquiries
Senior Specialist, Corporate Communications
403-567-2573
Leroy.McKinnon@parkland.ca
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/2965ce74-f1d9-4a15-8c37-7bb62ec77cdc
https://www.globenewswire.com/NewsRoom/AttachmentNg/ce262265-1412-4033-8f32-1e65206709cc
Source: Corporation Parkland
2020 GlobeNewswire, Inc., source