USA: Parkland acquired Lynch Oil

The acquisition includes five large convenience stores, two travel centers and a two car wash sites.

Parkland Corporation has acquired all of the assets of Lynch Oil to business across Pacific Northwest. The acquisition complements the existing retail, commercial and wholesale businesses in Idaho.

"This acquisition advances our strategy by strengthening our retail convenience network and supply advantage in a growing market where we already have a significant presence," said Doug Haugh, President of Parkland USA.

Family owned and operated since 1923, Lynch's operations are concentrated in southern and central Idaho. This acquisition adds annual fuel sales of over 180 million litres and includes five large-format convenience stores and forecourts, two travel centers, two stand-alone car washes, and a rail storage terminal. Gross profit from the acquired assets is split roughly 60% retail, convenience, carwash and non-fuel, and 40% commercial and wholesale.

90 percent of the transaction consideration will be funded out of existing credit facility capacity, and the remaining 10 percent with Parkland common shares issued from treasury.