Gas prices are displayed as a motorist prepares to pump gas at a station in North Vancouver on May 10, 2011. THE CANADIAN PRESS/Jonathan Hayward
July 06, 2021 - 5:15 AM
MONTREAL - The Crevier Group has signed a deal to sell its Pétroles Crevier fuel division to Parkland Corp.
Financial terms of the deal were not immediately available.
The agreement covers 174 service stations including 138 retailer-owners and 36 corporate stations as well as wholesale operations.
The Crevier Group, a family-owned company, says once the sale is complete it will focus on its lubricants business, Catalys Lubricants and Crevier Lubrifiants.
It says a new warehouse is already in operation in Edmonton and other openings are expected in the coming months.
The sale is expected to close in the first quarter of 2022 and is subject to regulatory approval.
This report by The Canadian Press was first published July 6, 2021.
Companies in this story: (TSX:PKI)
News from © The Canadian Press, 2021