Parkland Fuel Corp.'s U.S.-based subsidiaries, collectively known as Parkland USA, agreed to acquire the entities and assets that make up Kellerstrass Oil Co. for an undisclosed amount, according to a Jan. 16 news release.
The acquisition will bring in a strategic 17-car rail spur and storage assets as well as commercial card locks and an 84-location dealer business. Parkland Fuel said Kellerstrass will complement and strengthen the company's Rockies Regional Operating Center. The deal will be funded by Parkland's existing credit facility capacity.
"We continue to deliver on our growth strategy and expand our U.S. footprint," Parkland USA President Doug Haugh said in the release. "We expect this acquisition will support the growth of our North America diesel platform, create supply efficiencies and deliver logistical benefits."
In December 2019, Parkland USA closed the acquisition of Montana fuel distributor Mort Distributing Inc. In early October 2019, the company closed the acquisition of Miami-headquartered Tropic Oil Company Inc.
Kellerstrass Oil is a regional retail dealer and commercial fuel business with branches in Utah, Idaho and Wyoming.