Canadian Tire to rebrand fuel stations to Petro-Canada
Petro-Canada and Canadian Tire Corp. are announcing a new partnership. Under the new deal, the two companies will enhance each other's loyalty programs, retail fuel network and fuel supply offering.
The partnership has established a long-term fuel supply arrangement for Suncor, Petro-Canada’s parent company, which will establish a competitive fuel source for Canadian Tire.
"This partnership is a tangible example of our commitment to optimize our retail network and expand strategic partnerships for Petro-Canada. It brings together Petro-Canada, the leading and most trusted gas station brand in Canada, with Canadian Tire Corporation, an iconic Canadian retailer," said Rich Kruger, president and CEO for Suncor. "This will provide long-term value to our shareholders by securing a long-term supply relationship for our refineries, while continuing to build on our brand."
The partnership will marry the Triangle Rewards program, Canadian Tire’s loyalty program with more than 11 million active members and Petro-Points, Petro-Canada’s loyalty program with more than three million active members. Each company will retain full ownership of its respective loyalty program,while delivering expanded benefits to Canadians.
More than 200 of Canadian Tire’s Gas+ retail fuel network sites will now be rebranded to Petro-Canada stations, but maintain Canadian Tire ownership. Canadian Tire will be able to leverage Suncor’s scale and operating infrastructure which will allow it to provide customers with more products and services, including low-carbon energy alternatives.
Suncor will also become the primary fuel supplier to Canadian Tire’s retail fuel network over time. The company expects to supply more than one billion litres of fuel to the network annually and increase Petro-Canada’s retail fuel sales volume by 17% compared to last year.
"Through this new partnership, Canadian Tire Corp. will expand the reach of our Triangle Rewards program from over 200 gas stations to a network of more than 1,800, driving enhanced value for Canadians at the pumps by providing more opportunities for members to earn Canadian Tire money in a high-frequency category," said Greg Hicks, president and CEO for Canadian Tire Corporation. "This is yet another way we're creating valuable relationships through the power of Triangle, which is a key component of our growth strategy."
The loyalty partnership is expected to launch this fall. Canadian Tire’s gas network of fuel stations will be rebranded over the next several years.
