Parkland Fuel Corporation, through its wholly owned U.S. subsidiaries, is entering into an agreement to acquire the assets of Montana-based Mort Distributing, Inc. and its affiliates.
Founded in 1958, Mort is a family-owned marketer and distributor of fuels and lubricants serving retail, commercial and wholesale customers. Mort’s operations are focused in Montana, which will enable Parkland to "further capture distribution efficiencies and enhance customer service across its Northern Tier Regional Operating Centre (ROC)."
“This acquisition is consistent with our U.S. growth strategy and will complement and strengthen our existing Northern Tier ROC,” Doug Haugh, president of Parkland USA said in a statement. “We look forward to welcoming the Mort team into Parkland and to continuing to deliver high-quality products and excellent service to Mort’s broad customer base.”
The acquisition will primarily be funded from cash from operations. The transaction is expected to close by the end of 2019 and is subject to customary closing conditions.