Canada: Parkland acquires M&M Food Market
The company will implement the assets acquired to amp up their customer service and expand their “On the Run” store concept.
Parkland Corporation has entered an agreement to acquire M&M Food Market as part of its expansion and innovation strategy. The acquisition includes over 300 standalone franchise and corporate owned stores, as well as 2,000 M&M Express locations and a rewards program with approximately two million active members.
“This acquisition provides a platform to grow our food offer, expand our proprietary brands, and advance our digital and loyalty strategy. 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,” said Ian White, SVP Strategic Marketing & Innovation.
The company seeks to capitalize on M&M’s capabilities and product offer to create quality food options for their customers. Parkland will extend these assets throughout their existing network and their soon to be launched standalone “On the Run” convenience stores.
“Parkland’s On the Run brand is a convenience retail leader and we are excited to combine our two offerings. 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,” stated Andy O’Brien, CEO of M&M.
The approximately $322 million purchase enables key elements in Parkland’s strategy. These topics include developing its enterprise food strategy and advancing its digital strategy while enhancing their “On the Run” customer value proposition.
