Canada: Parkland Fuel acquires PNE assets, 7-Eleven sites

Parkland Fuel Corporation, Canada's largest and one of North America's fastest growing independent fuel and petrol products distributor, has agreed to purchase the assets of PNE Corporation and three 7-Eleven locations in Wyoming.

The acquisition of PNE assets and operations, worth CAD 17 million (USD 12.7 million), will add approximately 17 million litres of propane annually and will expand Parkland’s propane business to include a national 20-pound cylinder exchange offering in addition to a 33 and 100-pound cylinder offering in Ontario, stated a company release.

“It will allow us to grow our commercial capabilities by introducing and leveraging PNE’s expertise in cylinder refilling, and distribution from British Columbia through to Québec,” said Bob Espey, Parkland’s President, and CEO.

Parkland is also expanding to Wyoming by buying two truck stops and one retail station from 7-Eleven Inc. These stations in Cheyenne, Wyoming are expected to sell more than 15 million gallons (55 million litres) of fuel yearly.

The two separate acquisitions are both subject to regulations and are expected to be completed by the end of the year.