Montréal, July 6, 2021 – Crevier Group, a family-owned company and Canadian leader in the distribution of energy and lubricants, announced today the signing of an agreement to sell its fuel division, Pétroles Crevier, to Parkland Corporation (hereinafter Parkland), a Canadian company and a major fuel marketer and convenience store operator with operations across Canada, the United States, the Caribbean and central and south America.
This decision was made for two reasons: to provide better opportunities for the future and development of Pétroles Crevier, and to allow Crevier Group to continue to grow and make its mark as a leader in the field of lubricants and distribution throughout the country.
The agreement covers the network which includes 174 service stations (138 retailer-owners and 36 corporate stations) as well as the wholesale activities to commercial, industrial and reseller customers. Crevier Group believes it has made the best choice for its employees, customers and retailers, as Parkland has the expertise, supply capabilities and financial resources to create value and strengthen the business.
Once the transaction is completed, the third-generation owners of Crevier Group will be able to focus on its rapidly expanding subsidiary companies, Catalys Lubricants and Crevier Lubrifiants, across Canada. A new warehouse is already in operation in Edmonton and other openings are expected in the coming months. The revenues from the sale will allow Crevier Group to accelerate its development and to anchor its presence on the Canadian market thanks to its solid distribution platform.
The sale is expected to close in the first quarter of 2022 and is subject to approval under the Canadian Competition Act.
PricewaterhouseCoopers Corporate Finance Inc. and Fasken served as financial and legal advisors on this transaction.
“Thanks to the skills and commitment of our employees, we are leaving Parkland with a well-established and forward-looking service station network and wholesale division. This transaction will allow the fuel Division to continue to grow and become more even efficient. For our part, this decision allows us to focus on our lubricants subsidiary companies, Catalys Lubricants and Crevier Lubrifiants, continuing our growth and consolidating our leadership position in the Canada-wide market.”
-Jean-François Crevier, President, Crevier Group
“This acquisition extends our existing retail network in Quebec and expands our presence in key markets. We believe we can add significant value by deploying our proven retail capabilities, proprietary Marche Express (ON the RUN) convenience and Ultramar forecourt brands, and JOURNIE™ Rewards loyalty program. We look forward to continuing to provide Crevier Petroleum’s customers with essential products and exceptional service.”
- Donna Sanker, President, Parkland Canada
About Crevier Group
The Crevier Group is a third-generation family-owned business and a Canadian leader in the distribution of energy and lubricants. Founded in 1945 by Émile Crevier, the company now has around 175 service stations. It also acts as a distributor of petroleum products for commercial customers through its wholesale Division. The Crevier Group is also involved in the distribution of lubricants such as oils, grease, fluids and related products. Various acquisitions have enabled the organization to distribute its lubricant products to over 3,200 customers across the country.
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