M&M Food Market bought by convenience store operator Parkland
M&M Food Market has been acquired by Parkland Corporation (Parkland), an international operator of convenience retail and fuel marketing businesses.
The deal comes after M&M’s recent rebranding, transformation of its stores and food portfolio, and as the brand pursues its strategy of further Canadian growth and international expansion.
Through the transaction, Parkland will acquire more than 300 M&M stores, more than 2,000 M&M Express locations, nearly 500 specialty frozen foods and the company’s investments in technology.
According to a press release, Parkland “will bring scale and complementary leadership strength that will allow M&M Food Market to continue to grow in Canada while expanding into new international markets.”
“This marks the start of a bold new chapter for our business and is a testament to the vision and tireless work of our dedicated team,” said Andy O’Brien, CEO, M&M Meat Shops. “After a thorough review of our experience, our products, our profitability, our dedicated franchise partners, our impressive store network and our business strategy, Parkland has concluded that M&M will play a vital role in achieving its goals. long term in the food industry.
The M&M brand, management, franchise system, store network and office in Mississauga, Ontario. will remain in place.
“This acquisition provides a platform to significantly grow our food offerings in all of our markets,” said Ian White, senior vice president of strategic marketing and innovation. “M&M’s innovative approach to food preparation, national store network and menu development allows us to offer new restaurant-quality food options to complement our existing quick-service restaurants. We plan to expand this capability across all of our operating regions and strengthen our connection to customers by combining the M&M and JOURNIE rewards programs to form a premier loyalty program.