acquisition of M&M Food Market CALGARY, AB, Jan. 18, 2022 /PRNewswire/ - Parkland Corporation ("Parkland", "we", the "Company", or "our") (TSX: PKI), a leading operator and consolidator of convenience retail and fuel marketing businesses, announced today it has entered into an agreement to acquire M&M Food Market ("M&M") ("the Acquisition"). M&M is a premium, restaurant-quality frozen food retailer who brings high-quality, convenient food choices to Canadians. This acquisition represents one of many steps we are taking in our retail diversification strategy to expand our proprietary food offer, customer reach and innovation pipeline.
"This acquisition provides a platform to grow our food offer, expand our proprietary brands, and advance our digital and loyalty strategy," said Ian White, SVP Strategic Marketing & Innovation. "Consistent with our commitment to create convenience destinations, M&M's national store network, and innovative approach to food preparation and menu development positions us to offer high-quality food that complements our growing quick-serve restaurant offerings. We will grow these capabilities in all our operating regions and bolster our digital connection to customers by combining M&M and JOURNIE™ rewards programs. We look forward to bringing ON the RUN and M&M together to help customers make the most of every stop."
The acquisition includes over 300 well-located standalone franchise and corporate owned stores, over 2,000 M&M Express locations, and a well-established rewards program with approximately 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 standalone ON the RUN convenience locations.
"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."