Move establishes a new growth platform in the Pacific Northwest
Parkland Corporation, through its wholly owned U.S. subsidiaries, has entered into an agreement to acquire Conrad & Bischoff Inc. and its related companies.
With this acquisition, Parkland will establish a fourth U.S. Regional Operating Centre (“ROC”) in Idaho Falls, ID.
C&B is a well-established retail, commercial, wholesale and lubricants business with annual fuel and petroleum product volume of approximately 700 million litres. Family owned and operated since 1959, C&B’s operations are concentrated in the markets of Idaho and western Wyoming, with additional distribution capability into Utah, Nevada, Montana and other states.
“This acquisition checks all the boxes of our U.S. growth strategy and complements our existing ROCs,” Doug Haugh, president of Parkland USA, said in a release. “C&B strengthens our supply advantage, brings a high-quality retail network and offers a long runway for organic growth.”
The transaction includes 58 retail locations, comprising 19 company-owned sites and 39 retail dealer sites. In addition, terminal operations with combined tank storage of 30 million litres and capacity for 88 rail cars adds significant supply optionality in PADD IV.
“In addition to adding an exceptional team, C&B creates a springboard for growth throughout the Pacific Northwest,” said Haugh. “We continue to profitably grow our U.S. business and will remain disciplined in our appraisal of the many opportunities we see in front of us.”