What is Brief History of Parkland Company?

Throughout the 1980s and 1990s Parkland methodically acquired regional fuel marketers across the Prairies and British Columbia, adding cardlocks and commercial fleet customers. The company launched the Fas Gas retail brand and in 1997 listed on the Toronto Stock Exchange, improving capital access and enabling faster expansion.

By the early 2000s Parkland operated more than 500 retail and cardlock locations under owned and dealer arrangements, diversifying from bulk/wholesale into branded retail sites and convenience offerings to capture higher margins.

Following divestitures by Husky and Imperial, Parkland acquired assets from Chevron, Ultramar dealers and independent jobbers, improving rack-to-retail economics and supply optionality. The 2013 acquisition of SPF Energy (Superpumper) marked entry into the U.S. Midwest.

Scale enabled centralized procurement and SAP-based systems; leadership professionalized M&A integration to realize synergies and stronger gross margins from combined retail and commercial channels.

Parkland completed a C$1.5B acquisition of Chevron Canada’s downstream assets in 2017, including the 55–60 kb/d Burnaby refinery, Chevron’s Vancouver retail network, a marine terminal and supply agreements, elevating Parkland to an integrated refiner-marketer with coastal supply security.

Parkland entered the Caribbean and South America via Chevron’s Caribbean network in 2018, expanded U.S. footprint with acquisitions including Sol and dealer networks, and consolidated Canadian convenience banners (CST, Pioneer, On the Run/Marché Express). Systemwide retail sites surpassed 3,000 locations and revenue exceeded C$20B by 2021.

During a strategic review Parkland trimmed non-core assets and prioritized organic growth, loyalty and foodservice; it exited some U.S. markets while deepening western U.S. and Caribbean exposure. By 2024 Parkland operated across Canada, the U.S. and 23+ Caribbean/LATAM territories, distributing over 25 billion liters annually with adjusted EBITDA above C$2.0B, and a growing share from non-fuel gross margin.

Milestones include the 1997 TSX listing, 2013 U.S. entry, the 2017 Chevron Canada deal, and multi-year Caribbean/LATAM expansion (2018–2022), reflecting a strategy of growth by acquisition and vertical integration that defines the Parkland Company history.

Parkland aims to compound free cash flow by optimising the Burnaby refinery throughput and co-processing renewable feedstocks to improve margins and meet West Coast CI mandates.

Scaling On the Run remodels and JOURNIE Rewards monetization is targeted to increase non-fuel gross margin per site and drive repeat traffic.

Priorities include renewable co-processing, increasing renewable content and exploring SAF and other low-carbon fuels to address coastal aviation demand and tightening regulations.

Management prioritizes balance sheet strength, selective acquisitions in high-density urban corridors and tourism-driven Caribbean markets while pruning lower-return U.S. assets.