Canadian owner of former Bradenton fuel supplier to sell Florida operations

Parkland Corp., a Calgary based company that bought Bradenton Fuel Oil Inc. in 2021, is selling off all of its Florida assets.

The Canadian fuel supplier and convenience store owner told investors last week that it had placed its operations in the state on the market and believes a deal could be done in the next 18 months.

It says its business here includes about 100 retail locations, nine cardlock facilities and four bulk storage plants and warehouses. The company’s retail locations operate under the Chevron and RaceTrac brands.

Parkland says the sale is part of a larger plan announced in November that is expected to “double cash flow per share to $8.50 and grow adjusted EBITDA to $2.5 billion by 2028 through continued organic growth, lowering costs and optimizing its supply advantage.”

The company says it “non-core asset divestment program,” which the Florida sale is a part of, is expected “to significantly exceed $500 million by the end of 2025.”

The sale of its Canadian propane business, which is expected to close later this year, includes an estimated $115 million in cash along with a contract to supply the new owner.

Just three years ago, Parkland picked up the 50-year-old commercial fuel distributor Bradenton Fuel Oil.

At the time, the company operated a fleet of seven tank wagons and operated a 4.48-acre industrial site in Bradenton with a 10,000-square-foot warehouse, 90,000 gallons of fuel tank storage and 25,000 gallons of lubricants tank storage.

Parkland, according to its website, distributes fuel in 26 countries across the Americas and operates about 4,000 retail and commercial locations across Canada, the U.S. and the Caribbean region.