(Calgary) Fuel distributor Parkland Corporation is seeking to sell 157 convenience stores and gas stations in six provinces.
The company indicates that the assets for sale include locations under the Chevron, Ultramar, Pioneer and Fosgas brands as well as the Marche Express brand (or On the Run outside of Quebec).
Most sites are located in Quebec and Ontario, with others in Alberta, British Columbia, Manitoba and Saskatchewan.
In Quebec, about fifty locations are for sale, according to investment management firm Colliers Canada, which is helping Parkland in the marketing process of 157 convenience stores and gas stations.
Parkland said it will sign long-term fuel supply contracts with retail and energy companies.
Parkland's vice-president of Canadian retail operations, Francis Lapointe, said the decision to sell the assets was part of the company's network planning and optimization process.
The sale process comes as the company faces calls from New York-based activist investor Engine Capital LP demanding a complete overhaul of the company's board of directors.
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