Parkland to Buy Ontario Frozen Food Retailer M&M for $322 Million

Additionally, Pops Mart Fuels has acquired 24 locations from Winnsboro Petroleum Corp.

January 20, 2022

On The Go Convenience Store

CALGARY, Alberta—Parkland Corporation announced a $322 million deal to acquire M&M Food Market, a restaurant-quality frozen food retailer. The acquisition will help the Canadian convenience retailer and fuel marketer advance its enterprise food strategy, including developing fresh and quick-serve food choices across its network.

The acquisition, which is expected to close in the first quarter, includes over 300 stand-alone franchise- and corporate-owned stores, over 2,000 M&M Express locations and a well-established rewards program with about two million active members.

“Led by an experienced management team who have a proven track record of growth and a food-first culture, M&M will create quality food options that our customers can consume fresh-from-frozen, both on site and on the go, and prepared from frozen at home. We will leverage these capabilities throughout our existing network and soon to be launched stand-alone ON the RUN convenience locations,” wrote Parkland in a news release.

“Parkland’s On the RUN brand is a convenience retail leader and we are excited to combine our two offerings,” said Andy O’Brien, CEO of M&M. “M&M and its franchise partners share Parkland’s customer focus and passion for quality food. The combination of our innovative food capabilities and Parkland’s more than 3,000 retail locations in 25 countries creates an immediate runway of growth and expansion opportunities.”

Parkland will combine M&M’s loyalty program with its JOURNIE program for cross-promotional opportunities. M&M Food Market is based in Mississauga, Ontario.

Last November, Parkland acquired Parker’s Energy, a division of privately held convenience retailer Parker’s. In September 2020, Parkland acquired the license for the exclusive use of the On the Run trademark in the majority of the U.S. Parkland said the deal allows it to rebrand existing U.S. convenience stores and use the On the Run brand at newly developed sites, plus positions the company for future acquisitions in the U.S.

Recently, its On the Run convenience stores in Canada have seen sales of grocery staples and grab-and-go foods increase since the start of the pandemic, and it’s helping the company’s revenue stream.

Meanwhile, Pops Mart Fuels, based in Columbia, South Carolina, has acquired 24 fuel and convenience retailing locations from Winnsboro Petroleum Corp. and its affiliates, according to a news release. The company-operated stores are primarily Shell branded and are located in and around the Columbia metro market area.

Pops Mart Fuels is owned by industry veterans Don Draughon and J.D. Dykstra, who have previously owned and operated more than 500 stores throughout the Southeast and Midwest over the past 30 years. Winnsboro is a third-generation, family-owned business.

Pops Mart indicated the company will maintain the Pops Mart store brand going forward and has supplemented the existing management team with long time retail and c-store industry veterans Jim Bosworth, David Taylor and Keith Draughon.

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