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Parkland to Unload Florida Assets
Calgary-based Parkland Corporation is unloading all of its Florida-based retail and commercial businesses. Parkland’s Florida business comprises approximately 100 retail locations, nine card lock facilities and four bulk storage plants and warehouses. The convenience-store fuel retailer expects to complete the disposition within the next 12 to 18 months. The sale of Parkland’s Florida business is part of the public company’s previously announced non-core asset divestment program, which the Company now expects will significantly exceed $500 million by the end of 2025.
“This disposition reflects our commitment to direct capital towards our highest return opportunities and maximize shareholder value,” said Bob Espey, President and CEO, Parkland. “We remain deeply committed to our northern US business, which is performing well and has strong connectivity with Canada.”
Consistent with its strategy laid out in November 2023, the Company expects to double cash flow per share to $8.50 and grow Adjusted EBITDA to $2.5 billion by 2028.
- ◦Sale/Acquisition
