Parkland Fuel Corporation Closes Acquisition of Elbow River Marketing

Parkland Fuel Corporation Closes Acquisition of Elbow River Marketing 
RED DEER, AB, Feb. 15, 2013 /CNW/ - Parkland Fuel Corporation ("Parkland" or 
the "Corporation") (TSX: PKI), Canada's largest independent distributor and 
marketer of petroleum products, today announced that, having received all 
necessary approvals, it has completed its previously announced transaction to 
acquire the assets of Elbow River Marketing Limited Partnership ("Elbow 
River") from AvenEx Energy Corporation (TSX: AVF) (the "Acquisition"). The 
assets were acquired by Elbow River Marketing Limited, a wholly owned 
subsidiary of Parkland Fuel Corporation. All financial figures are stated in 
Canadian dollars. 
The purchase price for the Acquisition consisted of $80 million in cash and 
the assumption of approximately $15 million in debt for a total of $95 
million, representing a purchase multiple of 4.75 times annualized EBITDA of 
$20 million. 
"The closing of this acquisition further demonstrates Parkland's ability to 
rapidly respond and execute quickly on emerging opportunities in the Canadian 
marketplace," said Bob Espey, President and Chief Executive Officer of 
Parkland. "I want to welcome Elbow River's highly respected team to the 
Parkland family. We look forward to working with Elbow River to expand and 
enhance Parkland's supply relationships and options." 
Elbow River markets, transports and supplies petroleum products throughout 
North America utilizing their fleet of 1,200 rail cars and 270,000 bbls (43 
million litres) of leased storage capacity. Through a strong network of 
relationships, Elbow River is able to connect buyers and sellers of liquefied 
petroleum gases (butane, propane, and condensate), crude oil, heavy fuel oil, 
and a growing portfolio of refined fuel and bio-fuel products. With more 
than 30 years of experience, Elbow River has developed the logistical 
capabilities and risk management approach to respond to emerging opportunities 
both rapidly and profitably. 
Following the closing of the Acquisition, Parkland continues to maintain a 
strong balance sheet with considerable financial flexibility. 
About Parkland Fuel Corporation
Parkland Fuel Corporation is Canada's largest independent marketer and 
distributor of petroleum products, managing a nationwide network of sales 
channels. We are Canada's local fuel company, delivering gasoline, diesel 
fuel, lubricants, heating oil and other products to businesses, consumers and 
wholesale customers through community based operators who care. 
For investor and media inquiries please contact Tom McMillan, Director  of 
Corporate Communications at 1-800-662-7177 ext 2533 
orhttp://bit.ly/PKIContact. To sign up for Parkland's investor information 
services, please go to http://bit.ly/PKI-Info or visitwww.parkland.ca. 
SOURCE: Parkland Fuel Corporation 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/February2013/15/c6023.html 
CO: Parkland Fuel Corporation
ST: Alberta
NI: RET MNA  
-0- Feb/15/2013 17:20 GMT
 
 
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