Parkland Fuel acquires Canadian propane marketer

Parkland Fuel Corp., a distributor and marketer of fuels and lubricants, acquired Propane Nord-Ouest (PNO), a propane marketer that serves mining and industrial customers in the Abitibi-Témiscamingue region of Quebec, Canada, for $22.5 million.

“Propane Nord-Ouest represents a strategic expansion of Parkland’s propane offering in Quebec, a key growth area for our business,” says Bob Espey, Parkland Fuel’s president and CEO, in a press release. “The PNO transaction is the first for Parkland’s new Quebec-based team that is developing organic growth and acquisition opportunities in our retail and commercial business segments.”

Parkland Fuel purchased the business from the Mirault family, Quebec-based entrepreneurs. Caroline Mirault, PNO’s manager, will join Parkland Fuel as manager of PNO’s operations. According to Parkland Fuel, the acquisition is anticipated to close in April.

In addition to the purchase of PNO’s propane distribution assets, the transaction also includes access to the Mirault rail facility in Val d’Or, Quebec, to serve Parkland Fuel’s Elbow River Marketing business for all-season supply of propane, fuels and lubricants.