Parkland Acquiring KB Oil's C-stores & Distribution Businesses
CEDAR CITY, Utah — Parkland USA is adding nine convenience stores to its portfolio through its acquisition of Ken Bettridge Distributing Inc. (KB Oil).
Parkland USA is a subsidiary of Parkland Fuel Corp. KB Oil is a bulk fuel and lubricants distributor and operator of fleet fueling, KB Express convenience stores and cardlock services in Southwest Utah and Southeast Nevada.
"KB Oil has long been a respected and admired provider of bulk fuels and lubricants in the region and is an expert in the trucking industry. Parkland will be able to leverage its resources to better serve customers throughout Utah and Nevada," said John Jardine, vice president of Parkland USA and general manager of the Rockies ROC. "The acquisition of KB Oil follows on our U.S. growth strategy by establishing scale through the addition of strong local operators."
KB Oil will incorporate into Parkland's Rockies Regional Operating Center (ROC) headquartered in American Fork, Utah, with Rhinehart Oil serving as the operating entity.
"We've been a family-owned business for more than 40 years, and the professional business model and culture of Parkland appealed to us as we looked to sell," said Stacey Bettridge, co-president of KB Oil.
Under the terms of the agreement, Parkland will acquire substantially all of the assets, including real estate, used in the operation of KB Oil's business. The transaction is expected to close in the second quarter.
KB Oil will operate under Parkland USA, a division of Parkland comprising several of Parkland's wholly owned subsidiaries.
"Our customers will benefit from the increased resources Parkland can provide, and this in turn will contribute to Parkland's continued organic growth efforts," added Rand Bettridge, co-president of KB Oil.
Parkland USA is a division of Parkland, comprising several of Parkland wholly owned subsidiaries specializing in the retail, commercial and supply fuel operations. Parkland USA operates 45 convenience stores, 220 dealers and 300 trucks, with 1,000 employees in 11 states. At the core of its strategy are its people, as well as its values of safety, integrity, community and respect.
Canada-based Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator servicing customers across Canada, the United States, the Caribbean region and the Americas through three channels: retail, commercial and wholesale.