Parkland acquires M&M Food Market to expand convenience retail and food offerings

On January 18, 2022, Parkland Corporation announced the acquisition of M&M Food Market, following M&M's rebranding and strategic growth initiatives. This acquisition, valued at CAD 322 million, aims to bolster Parkland's convenience retail and food service portfolio. Parkland will gain access to M&M's network of over 300 stores, 2,000 M&M Express locations, and nearly 500 specialty frozen products.

Andy O'Brien, CEO of M&M, highlighted the transaction as a significant milestone for the company, emphasizing the alignment with Parkland's long-term goals. Ian White, Parkland's SVP Strategic Marketing & Innovation, noted the acquisition would enhance their food offerings across all markets, leveraging M&M's innovative approach and extensive network.

Founded in 1980 as M&M Meat Shops, M&M Food Market underwent a comprehensive rebrand under Searchlight Capital Partners in 2014. Today, M&M operates 315 franchised stores and over 2,000 Express locations through partnerships with retailers like Rexall and Home Hardware.

The transaction, expected to close in Q1 2022, is pending customary closing conditions and Competition Act approval. M&M was advised by RBC Capital Markets, CG Sawaya Partners, and Goodmans LLP. Torys acted as counsel for Parkland.

Deal Type

Merger & Acquisition

Industry

Other

Transaction

$ 322,000,000

Deal Status

Closed

Closing Date

18 February 2022