The Calgary\u002Dbased fuel retailer and convenience store operator has been the subject of a campaign by U.S.\u002Dbased Engine Capital LP, which owns about a two per…
“We reviewed several options, including a sale or spinoff and considered the impact of leverage and synergies,” Espey said.
On the retail side, Parkland is one of the fastest-growing independent fuel suppliers and marketers in North America, with a network of retail service stations across Canada, the northern U.S. and the Caribbean.Advertisement 4The Burnaby refinery supplies about a third of the gasoline sold on B.C.’s Lower Mainland and Vancouver Island., and Espey noted the remainder of the gasoline sold in the area has to be imported from the U.S. or from Edmonton via the Trans Mountain Pipeline.
“Work is well underway. At the end of the first quarter, we had more than $200 million of assets up for sale,” Espey said, adding many of those assets are high-value U.S. retail locations for which negotiations with prospective buyers are already underway.Article content
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