Canada's largest petrol station owner may set sights on the US next

Calgary

IN the past five years, Parkland Fuel Corp has more than tripled its market value by snapping up petrol stations, propane distributors and other types of fuel sellers across Canada. Its next wave of acquisitions may be in the US.

Since chief executive officer Bob Espey took the helm in 2011, Parkland has struck 18 deals valued at more than US$2.4 billion, including three transactions involving Chevron Corp, Imperial Oil Ltd and CST Brands Inc in the past year and a half. Parkland is now Canada's largest petrol-station owner, with significant holdings in all of the nation's most-populous provinces.

The market has cheered the acquisition spree, with the shares more than doubling during Mr Espey's tenure. Even though Parkland has signalled it plans to take a breather after its most recent takeovers, investors are eager for it to continue rolling up the fragme…