Parker's Inks Agreement to Sell Wholesale Fuel Division

SAVANNAH, Ga. — Parker's has signed an agreement to sell its Parker's Energy division to Parkland Corp. through its U.S.-based subsidiary Parkland USA. The deal is expected to close in the fourth quarter.

Parker's Energy will operate under Parkland USA's Houston-based U.S. Supply Corp. (USSC) division. USSC serves as the supply and trading platform for the United States and works in collaboration with its Canadian and international regions to offer a supply advantage to customers throughout Parkland.

The Parker's Energy division is a wholesale fuel marketer with supply business throughout the southeastern United States that seeks to create value through distinct supply relationships and optimization processes.

"We're delighted that Parkland is acquiring the Parker's Energy wholesale fuel division and are confident that this acquisition will benefit existing customers," said Greg Parker, founder and CEO of Parker's. "Parkland has a strong track record in the wholesale fuel distribution industry, an impressive resource base and private terminals to accommodate customer demand. Parkland will leverage its great resources to continue to provide great service to Parker's Energy customers in Georgia, South Carolina, North Carolina, Virginia, Florida, Tennessee, Kentucky, Alabama, Texas, Maryland and New Jersey."

In addition to its convenience store operations, Calgary, Alberta-based Parkland is also one of the fastest-growing independent suppliers and marketers of fuel and petroleum products in North America and the Caribbean, according to the company.

Headquartered in Savannah, Parker's owns and operates 71 c-stores throughout coastal Georgia and South Carolina. It is currently in the middle of a major expansion into the Charleston, S.C., market.