Parkland to Acquire Rhinehart Oil

Noria news wires

Parkland Fuel recently announced that it has signed an agreement to acquire Rhinehart Oil and its affiliates. Headquartered in American Fork, Utah, Rhinehart is a retail, commercial and lubricants business with operations in Utah, Colorado, Wyoming and New Mexico.

The company transports, distributes and markets a full range of lubricants, fuels and chemical products through 10 facilities, distributing approximately 72 million gallons of fuel and lubricants per year. Rhinehart also operates and supplies four cardlock facilities and nine retail sites, in addition to providing equipment and one-stop shop servicing.

"Rhinehart is a prominent fuel distributor and a well-scaled and respected ExxonMobil lubricants distributor," said Doug Haugh, president of Parkland USA. "The addition of Rhinehart to the Parkland USA team provides us with the talented staff and scalable infrastructure we need to establish our Regional Operations Center (ROC) for the Rocky Mountain tributary. This ROC will be the operating platform that drives organic growth and enables further acquisitions across the region that can leverage substantial existing capacity within their current rail hubs, bulk storage terminals and warehouses."

The acquisition, which is expected to double Parkland's U.S. operations, will close on or about Aug. 27, 2018, and is subject to customary closing conditions.

For more information, visit www.parkland.ca.

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