Date Announced

June 5, 2024

Lead Office

Montréal

Value

115.00 Million CAD

On June 5, 2024, Avenir Energy Ltd. ("Avenir") entered into an agreement to acquire Parkland Corporation's ("Parkland") Canadian commercial propane business for a cash consideration of approximately C$115 million. Under the agreement, Parkland will also exclusively supply fuel to Avenir for ten years. Subject to certain closing conditions, the transaction is expected to close in the fourth quarter of 2024.

Avenir is a Canadian energy-distribution company.

Parkland, based in Calgary, Alberta, is an international fuel distributor, marketer, and convenience retailer with operations in 26 countries across the Americas.

McCarthy Tétrault is advising Avenir with a team led by Patrick M. Shea that includes Aathmika Kularatnam, Catherine Samuel, Ashley Wilson, Gurvir Sangha, Meghan Noel, Abygail Cross, Giorgina Chum, Sandra Robbins, Christine Siomou (Business), Olivia Colic, Jessie Bachinsky, Matthew Pekofsky, Madeleine Hawkins, Anthony Salandra, Luke Madill, Sarah Murphy, Nicholas Alevras, Nick Kasting, Derek Baker, Jaskirt McDonald (Real Estate), Ben Aberant, Caroline-Ariane Bernier, Ziad Shanab, Mia Music (Labour & Employment), Kelleher Lynch, Julia Miller (Pensions & Benefits), Laura Weingarden (Environmental), Conrad Lee, Francis Langlois, Gabriel Boulianne Gobeil (Technology), Jeff Sun (Intellectual Property), Brian Lipson, Connor O’Brien (Transportation), Reena Goyal, Kerri Howard, Kimberly Howard, Daphne Rodzinyak, Elena Drouin (Regulatory & Energy), Casey Halladay, Alykhan Rahim (Competition & Foreign Investment), Ian Mak, Audrey Bouffard-Nesbitt, Jacob Che (Financial Services), Patrick McCay, Simon Douville, Kathryn Walker, Hubert Cadotte, and Sara Baxter (Tax).