M&A Deal Summary

Parkland Acquires Rhinehart Oil

On August 13, 2018, Parkland acquired oil/gas exploration company Rhinehart Oil

Acquisition Highlights
  • This is Parkland’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Parkland’s 1st transaction in the United States.
  • This is Parkland’s 1st transaction in Utah.

M&A Deal Summary
Date 2018-08-13
Target Rhinehart Oil
Sector Oil/Gas Exploration
Buyer(s) Parkland
Deal Type Add-on Acquisition

Target

Rhinehart Oil

American Fork, Utah, United States
Rhinehart Oil Co. Inc. transports, distributes and markets a full range of fuels, lubricants and chemical products in addition to providing equipment and one-stop shop servicing to its customers in the region. Rhinehart operates and supplies four cardlock facilities, nine retail sites and markets and distributes fuels, lubricants and specialties through ten distribution facilities. Rhinehart distributes approximately 72 million gallons of fuel and lubricants per year.

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Buyer(S) 1

Buyer

Parkland

Calgary, Alberta, Canada
Category Company
Founded 1977
Sector Oil/Gas Exploration
Employees3,051
Revenue 32.5B CAD (2023)
DESCRIPTION

Parkland is an independent marketers of fuel and petroleum products. It deliver gasoline, diesel, propane, lubricants, heating oil and other high quality petroleum products to motorists, businesses, households and wholesale customers in Canada and the United States. Parkland was founded in 1977 and is based in Calgary, Alberta.

DEAL STATS #
Overall 3 of 15
Sector (Oil/Gas Exploration) 1 of 5
Type (Add-on Acquisition) 3 of 13
State (Utah) 1 of 3
Country (United States) 1 of 10
Year (2018) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Cango

Shanghai, China

Cango is an automotive transaction service platform in China connecting dealers, financial institutions, car buyers, and other industry participants. The Company’s services primarily consist of automotive financing facilitation, automotive transaction facilitation, and after-market service facilitation. By utilizing its competitive advantages in technology, data, and cloud infrastructure, Cango is able to connect participants across its platform while bringing them a premium user experience. Cango was founded in 2010 and is based in Shanghai, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-28 Missouri Valley Petroleum

Mandan, North Dakota, United States

Missouri Valley Petroleum, Inc. is a retail, wholesale and lubricants business with headquarters in Mandan, N.D. MVP operates three bulk plant terminals co-located with cardlocks in Williston, Belfield, and Mandan, and owns and operates six retail sites with convenience stores located in Mandan, Rugby and Bismarck. MVP also supplies 19 branded dealers across North Dakota and distributes approximately 84 million gallons (318 million litres) of fuel and petroleum products annually.

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