Canada-based distributor Parkland Fuel Corp. posted a 122 percent jump in consolidated revenue for its lubricant segment for full year 2019, thanks to acquisitions that helped it break into overseas markets.
The company reported sales revenue of 407 million Canadian dollars (U.S. $287 million) last year. That included CA$93 million for the international segment – new for 2019, as the company had no international segment in 2018 – reflecting the nearly full-year contribution of the Sol business acquired on Jan. 8, 2019. That business has operations in 23 countries predominantly located in the Caribbean and northern coast of South America. It operates and services a network of retail service stations under brands including Esso, Shell and Sol. The international business also serves commercial, industrial and aviation businesses.
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The company’s USA segment posted CA$263 million in lubricant revenue for 2019, up 117 percent from the prior year. The USA segment delivers ExxonMobil and Ridgeline lubricants, chemicals, ancillary automotive products, and equipment to commercial, industrial, marine and wholesale customers through an extensive delivery network in the regions in which Parkland operates. U.S. distributors that Parkland acquired in 2019 included Florida-based distributor Tropic Oil Co., Montana-based Mort Distributing Inc. and Ken Bettridge Distributing Inc. of Utah.
Parkland’s Canada Commercial segment reported CA$51 million in lubricants revenue for 2018, down 19 percent from CA$63 million in 2018. Canada Commercial delivers lubricants, oilfield fluids and other petroleum products to commercial, industrial and residential customers across Canada.
Calgary, Alberta province-based Parkland sells branded and private label lubricants to commercial, industrial and wholesale customers.