CALGARY - Gas marketer and comfort retailer retailer Parkland Corp. says it has reached a deal to accumulate M&M Meals Marketplace for $322 million.
The Calgary-based firm says its acquisition of the Mississauga-based frozen meals retailer consists of over 300 stand-alone franchise and company owned shops, over 2,000 M&M Specific places and a well-established rewards program with roughly two million energetic members.
Parkland says the acquisition is a part of a diversification technique geared toward increasing its proprietary meals provide, buyer attain and innovation pipeline.
It says M&M will create high quality meals choices that Parkland prospects can devour fresh-from-frozen, each on web site and on the go, and put together from frozen at dwelling.
The meals gadgets can be offered by means of Parkland’s present community in addition to its soon-to-be-launched standalone ON the RUN comfort places.
The acquisition is topic to regulatory approval and is anticipated to shut within the first quarter of 2022.
This report by The Canadian Press was first printed Jan. 18, 2022.
Firms on this story: (TSX:PKI)