Fuel and convenience assets across Canada hit the market
Colliers Canada has been selected to assist Parkland in the sale of 157 convenience store and fuel station assets across six Canadian provinces.
The assets for sale include stations under the fuel brands Chevron, Ultramar, Pioneer, and FasGas. Additionally, buyers may have the opportunity to operate under the well-regarded convenience store banner, On the Run, in certain cases.
Most of these stations are situated in Quebec and Ontario, encompassing both major metropolitan areas and smaller communities. The remainder of the locations are spread across Alberta, British Columbia, Manitoba, and Saskatchewan.
All retail and fuel sites are offered with long-term fuel supply agreements from Parkland, presenting a unique opportunity for entrepreneurs to take over essential community businesses associated with well-established brands.
Francis Lapointe, vice president of Canadian retail operations at Parkland, articulated that the decision to sell these sites is aligned with the company's strategy for network planning and optimization.
According to Lapointe, as Parkland continues to expand, it has identified sites that do not align with its strategic objectives in their current form. The sale of these sites is seen as an opportunity to strengthen the core areas of Parkland's business.
Lapointe emphasized that the divested sites would remain part of Parkland's network and continue to represent its strong brand presence within the communities. Parkland is eager to engage with experienced, entrepreneurial operators who are keen to collaborate with brands and programs that are trusted by customers.
The sale process invites convenience store operators, small business owners, and entrepreneurs to submit bids for single or multiple sites through a sealed bid sale process.
For this purpose, Parkland has partnered with NRC Realty & Capital Advisors, LLC, a firm that specializes in the marketing of convenience store properties, alongside Colliers Canada to manage the transaction process.
