Canada's largest independent petroleum products marketer plans to buy Mandan-based Missouri Valley Petroleum.
MVP, a regional fuel distribution company, and Parkland USA, which operates in the state as Superpumper, entered into an agreement expected to be finalized Oct. 1. Parkland did not disclose the acquisition price.
"The MVP Acquisition represents an opportunity for Parkland USA to grow within our existing footprint in North Dakota and expand our offering into the commercial fuel market. 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," Doug Haugh, president of Parkland USA, said in a statement.
MVP President Dave Froelich said the deal allows his family's company to "continue with our growth goals." He said Parkland USA did not only want to acquire MVP but also "grow what we've already established." And he said the Canadian company was adamant about retaining MVP's people and ability to relate to customers locally.
"The names and faces will remain familiar at MVP for customers," he said.
"We are excited to welcome the MVP employees to the Parkland team," Parkland CEO Bob Espey said in a statement.
MVP operates three wholesale terminals in Williston, Belfield and Mandan and owns and operates six retail sites with convenience stores located in Mandan, Rugby and Bismarck. MVP also supplies 19 branded dealers across North Dakota and distributes approximately 84 million gallons of fuel and petroleum products annually.
Froelich said what the acquisition does do is expand the products, like lubricants, that MVP is able to offer customers. He said customers will also likely notice improvements and updates being made to MVP's retail fuel stations.