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, the transformation of its stores and food portfolio, and as the brand pursues its strategy for additional Canadian growth and international expansion.
Through the transaction, Parkland will acquire more than 300 M&M stores, over 2000 M&M Express locations, nearly 500 specialty frozen products, and the company’s investments in technology.
According to a news release, Parkland “will bring scale and complementary leadership strength that will see M&M Food Market continue to grow in Canada while expanding into new international markets.”
“This marks the start of a bold new chapter for our company and stands as a testament to the vision and tireless work of our dedicated team,” said Andy O’Brien, CEO, M&M Food Market. “After a comprehensive examination of our experience, our products, profitability, dedicated franchise partners, impressive store network, and our business strategy, Parkland concluded M&M will be an essential part of achieving their long-term goals in the food industry.”
The M&M brand, leadership, franchise system, store network, and office in Mississauga, Ont. will remain in place.
“This acquisition provides a platform to meaningfully grow our food offerings across all of our markets,” said Ian White, senior vice-president 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 complementing our existing quick serve restaurants. We plan to grow this capability in all our operating regions and bolster our connection to customers by combining M&M and JOURNIE rewards programs to form a premier loyalty program.”