Torys is acting as counsel to Parkland with a team that includes Michael Akkawi, Brook Wong and Christina MacKinnon (corporate/M&A), Mitch Frazer, Brad Tartick, Penny Harding and Christophe Cinqmars-Viau (pensions and employment), Ebad Rahman (contracting), Omar Wakil and Eric Patenaude (competition), Andy Gibbons and Tristan McLeod (real estate), Dennis Mahony and Henry Ren (environmental), Ed Fan, Teresa Reguly and Yu Seon Gadsden-Chung (IP and regulatory) and Andrew Wong (tax).
On January 18, 2022, M&M Food Market ("M&M") announced that it entered into a definitive agreement to be acquired by Parkland Corporation ("Parkland") for approximately C$322 million.
As part of the transaction, Parkland will acquire
a national network of more than 300 M&M stores;
over 2,000 M&M Express locations from partnerships with retailers such as Rexall, PharmaChoice, Circle K and OnRoute;
nearly 500 specialty frozen products;
M&M's deep investments in technology; and
a well-established rewards program with approximately two million active members.
The transaction is expected to close in the first quarter of 2022, subject to customary closing conditions, including approval under the Competition Act (Canada).
Further information can be found on Canada Newswire’s website.
M&M Food Market is Canada's leading retailer of frozen foods and has helped Canadians put delicious meals on the table by offering consumers products that were prepared with care using authentic recipes and high-quality ingredients along with personalized customer service, all within a uniquely convenient shopping environment.
Parkland is a leading convenience store operator and independent supplier and marketer of fuel and petroleum products. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale.