Parkland Fuel Corp. Enters Agreement to Acquire Rhinehart Oil Co.

Parkland Fuel Corporation’s Acquisition of Rhinehart Oil Co., Inc. Expected to Double its U.S. Operations

The acquisition provides a key platform for expansion of Parkland’s business and operations in the United States

Parkland Fuel Corporation Canada’s largest and one of North America’s fastest growing independent marketers of fuel and petroleum products and a leading convenience store operator, is pleased to announce that Parkland through its U.S. based subsidiaries (collectively, “Parkland USA”), has entered into an agreement to acquire all of the issued and outstanding equity interests of Rhinehart Oil Co., Inc. and its affiliates (collectively, “Rhinehart”), a retail, commercial and lubricants business with operations in Utah, Colorado, Wyoming and New Mexico, (the “Acquisition”).

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Doug Haugh, President of Parkland USA

Rhinehart is headquartered in American Fork, Utah and 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.

“The Rhinehart Acquisition represents a significant expansion for Parkland,” said Bob Espey, President and Chief Executive Officer of Parkland. “Rhinehart has an excellent business and asset base that will serve as a platform for growth in Utah, Colorado and neighboring states. We are excited to welcome Dave and John Jardine from the Rhinehart leadership team and the rest of the Rhinehart employees to the Parkland team.”

“Rhinehart is a prominent fuel distributor and a well scaled and respected ExxonMobil lubricants distributor,” said Doug Haugh, President of Parkland USA. “The addition of Rhinehart to the Parkland USA team provides us with the talented staff and scalable infrastructure we need to establish our Regional Operations Center (“ROC”) for the Rocky Mountain tributary. This ROC will be the operating platform that drives organic growth and enables further acquisitions across the region that can leverage substantial existing capacity within their current rail hubs, bulk storage terminals, and warehouses.”

The Acquisition is expected to close on or about August 27, 2018 and is expected to be funded with cash flows and capacity under Parkland’s existing credit facility. The Acquisition is subject to customary closing conditions.

About Parkland Fuel Corporation
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 optimizes its fuel supply across these three channels by operating the Parkland Burnaby Refinery, and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings, including its On the Run/Marché Express banners, in the communities it serves.

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.

Rhinehart Oil Acquires Colorado Based Rex Oil Company

rhinehartrex1Rhinehart Oil Co., Inc. Announces Acquisition and Integration Of Rex Oil Company

Rhinehart Oil Co., Inc. announces the recent acquisition and integration of Rex Oil Company, headquartered in Denver, Colorado. The acquisition of Rex Oil Company significantly expands Rhinehart Oil’s presence as a premier fuels and lubricants distributor in the Rocky Mountain region. This acquisition will provide Rhinehart Oil a wider distribution footprint into Utah, Wyoming, and Colorado and provide more products and services to customers in these areas.

4212017quote41“We are extremely excited about this acquisition. It expands our reach in the Rocky Mountain region allowing us to serve a larger customer base,” said John Jardine, Co-CEO of Rhinehart Oil Company. “Tina Powell (President of Rex Oil Company) and I have been friends for several years and I couldn’t be happier this worked out. It’s a great company with a lot of great employees whom we are excited about having joined our team.”

Tina Powell agrees and adds, “I am very happy to make this announcement, I know we chose the right company to give our customers the quality products and excellent service they deserve and expect. It was very important to me that we choose a company that I trusted to care for our many, many long-term employees and customers and I firmly believe we have made the best possible choice.”

A Note From JobbersWorld: The Rex Oil Company described above is a different company than Rex Oil in South Carolina whose lubricants division was acquired by PetroChoice in 2016.

About Rhinehart Oil:
Rhinehart Oil is a privately held family business, based in American Fork, UT. The company has serviced customers in Utah and Wyoming since 1976. Rhinehart Oil provides exceptional quality and impeccable service. Rhinehart Oil is a total solutions provider that offers a wide range of high quality products and supporting services to industrial, commercial, and automotive markets. Rhinehart Oil distributes a wide variety of products including lubricants, fuels, diesel exhaust fluid (DEF), equipment, chemicals, and automotive ancillary products. More.

About Rex Oil Company:
Rex Oil Company has serviced the Colorado market since 1937. This acquisition comprises of both Rex Oil Company and Gray Oil Company, who previously merged into Rex Oil Company in 2014. The company services a broad range of customers with fuel, lubricants, diesel exhaust fluid (DEF), and chemicals throughout the Colorado and South East Wyoming region. This acquisition includes wholesale distribution facilities, convenience stores, and card locks throughout Colorado. More.

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