CALGARY — Fuel marketer and convenience store retailer Parkland Corp. says it has reached a deal to acquire M&M Food Market for $322 million.

The Calgary-based company says its acquisition of the Mississauga-based frozen food retailer includes over 300 stand-alone franchise and corporate owned stores, over 2,000 M&M Express locations and a well-established rewards program with approximately two million active members.

Parkland says the acquisition is part of a diversification strategy aimed at expanding its proprietary food offer, customer reach and innovation pipeline.

It says M&M will create quality food options that Parkland customers can consume fresh-from-frozen, both on site and on the go, and prepare from frozen at home.

The food items will be sold through Parkland’s existing network as well as its soon-to-be-launched standalone ON the RUN convenience locations.

The acquisition is subject to regulatory approval and is expected to close in the first quarter of 2022.

This report by The Canadian Press was first published Jan. 18, 2022.

Companies in this story: (TSX:PKI)

The Canadian Press

News from © The Canadian Press, 2021. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • 0045 WBPC 2023 Bright Colors P
    0045 WBPC 2023 Bright Colors P
  • 0044 PTRC CCUS Aquistore
    0044 PTRC CCUS Aquistore
  • 0043 ALX ten sizes
    0043 ALX ten sizes
  • 0042 Sask Oilfield Services
    0042 Sask Oilfield Services
  • 0039 Summit ESP Saskatchewan lower third
    0039 Summit ESP Saskatchewan lower third
  • 0041 DEEP Since 2018 now we are going to build
    0041 DEEP Since 2018 now we are going to build
  • 0040 Southeast College safety tickets
    0040 Southeast College safety tickets
  • 0033 Buffalo Potash Jared Small Footprint
  • 0032 IWS Summer hiring rock trailer music
  • 0029 Latus Viro updated Latus phone
  • 0025 Kendalls
  • 0026 Buffalo Potash Quinton Salt
  • 0023 LC Trucking tractor picker hiring mix
  • 0022 Grimes winter hiring
  • 0021 OSY Rentals S8 Promo
  • 0019 Jerry Mainil Ltd hiring dugout
  • 0018 IWS Hiring Royal Summer
  • 0014 Buffalo Potash What if PO
  • 0013 Panther Drilling PO ad 03 top drive rigs
  • 0011
  • 0006 JK Junior
  • 0004 Royal Helium PO Ad 02
  • 9001
  • 0002