In the News and on the Wire
Missouri Valley Petroleum Inc. (MVP) to be Acquired by Parkland USA
MVP to drive growth in commercial fuels and propane across North Dakota region
Missouri Valley Petroleum, Inc. (MVP), a petroleum products distributor with operations throughout North Dakota, announced today it has entered into an agreement to be acquired by Parkland USA, a subsidiary of Parkland Fuel Corporation, Canada’s largest and one of North America’s fastest growing independent suppliers and marketers of fuel and petroleum products.
MVP is a preferred provider of fuel, propane and lubricants throughout North Dakota 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.
“As third generation owners, today’s news is time for reflection and excitement. We believe Parkland represents a vision and business model that will be in the best long-term interest of MVP’s employees, customers and suppliers. Our name will continue to be represented in the market. We will continue serving and building our local relationships as a major part of the fabric of the North Dakota and the regional communities we serve, as we have for more than 70 years,” said Dave Froelich, MVP President. “Now, we will have the added benefit and resources of a nationally-respected industry partner, to help us grow organically in the state.”
Under the terms of the MVP Agreement, Parkland has agreed to acquire all of the issued and outstanding shares of MVP in addition to certain real estate assets used in the operation of the business.
“MVP represents an opportunity for Parkland USA to grow within its existing footprint in North Dakota and expand our offering into the commercial fueling and propane markets. These business lines provide us with a strong organic growth opportunity that we do not address today through our existing retail and wholesale fuel operations in North Dakota,” stated Dan Dunstan, Director of Sales and Operations of Parkland USA.
About Parkland USA
Parkland USA is a subsidiary under Parkland Fuel Corporation (PKI). Parkland is Canada’s largest and one of North America’s fastest growing independent suppliers and marketers of fuel and petroleum products and a leading convenience store operator. Parkland services customers through three channels: Retail, Commercial and Wholesale. Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization. More information can be found at www.parkland.ca
JobbersWorld Note: MVP provides its customers with a wide variety of lubricants including synthetic and conventional motor oils, hydraulic lubricants and a full line of grease for any piece of equipment. All MVP lubricants can be purchased in smaller or larger quantities and a lubricant specialist is always available to answer any questions or offer suggestions for your machinery.