CALGARY, Alberta, Feb. 24, 2020 (GLOBE NEWSWIRE) — Parkland Fuel Corporation (“Parkland”) (TSX: PKI) announced today a multi-year agreement to strengthen its already extensive range of freshly prepared, high quality meal options by expanding its existing, long-standing relationship with Triple O’s restaurants.
This new and exclusive agreement builds on the success of Parkland’s existing network of convenience stores which feature Triple O’s in British Columbia. Importantly, it paves the way for more restaurants in British Columbia, as well as Triple O’s entry into new and densely populated markets in Alberta and Ontario.
“We look forward to working with Triple O’s to expand their presence in BC and launch their high-quality food brand and award-winning menu into Alberta and Ontario,” said Ian White, Parkland’s Senior Vice President of Strategic Marketing and Innovation. “As part of our organic growth strategy, our goal is to include a high-quality food offering in every new and retrofitted On the Run convenience store.”
The combination of Parkland’s powerful network of fuel brands, accompanied by Triple O’s freshly prepared, high-quality, breakfast, lunch, dinner and snack options strongly complement Parkland’s already extensive food offering and is a natural, differentiated extension to its On the Run convenience store brand.
“This is an exciting day for the Triple O’s family,” said Warren Erhart, President of White Spot Hospitality. “We have a longstanding and successful partnership with Parkland in British Columbia and look forward to expanding on this success in new markets. With consumers’ evolving needs for convenience and premium quality food, it is with great pride and passion that we are now able to share our delicious and craveable taste of Triple O’s with our signature burgers, fresh-cut Kennebec fries and hand-scooped milkshakes, to so many more Canadians. Simply put, Triple O’s offers a taste like no other!”
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”). In particular, this news release contains forward-looking statements with respect to, among other things, strengthening the range of freshly prepared meal options, expanding Parkland’s relationship with Triple O’s; expansion of Triple O’s presence in British Columbia, Alberta and Ontario; including a good offering in every new and retrofitted On the Run convenience store; statements related to operational efficiency; business objectives and growth strategies.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, general economic, market and business conditions; industry capacity; competitive action by other companies; the ability of suppliers to meet commitments; actions by governmental authorities and other regulators; changes and developments in regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in Parkland’s Annual Information Form and in “Forward-Looking Information” and “Risk Factors” in Parkland’s quarterly MD&A, each as filed on SEDAR and available on the Parkland website at www.parkland.ca.
About Parkland
Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings 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.
About Triple O’s
Triple O’s Restaurants is a division of White Spot Hospitality, Canada’s longest-running restaurant chain since 1928. With over 60 premium quick service restaurants throughout British Columbia, Alberta and Asia, our guests can enjoy our signature burgers made with 100% fresh Canadian beef and Secret Triple “O” Sauce, fresh-cut Kennebec fries and hand-scooped milkshakes. Our restaurants offer a casual and authentic West Coast dining experience at Chevron gas stations, free-standing restaurants, sports arenas and on university and college campuses. White Spot Hospitality is proud to be recognized with the platinum status designation as one of Canada’s Best Managed Companies, one of Canada’s top 150 iconic brands as awarded by Interbrand Canada, awarded a gold medal for excellence in franchising by the Canadian Franchise Association and as one of BC’s Most Loved Brands as recognized by Ipsos. www.tripleos.com.
For Further Information
Parkland Investor Inquiries
Brad Monaco
Director, Investor Relations
587-997-1447
Parkland Media Inquiries
Leroy McKinnon
Senior Specialist, Corporate Communications
403-567-2573
Triple O’s Media Inquiries
(P) 236.317.6697 (E) david.comuzzi@whitespot.ca
