Greenergy sells service station network to Global Fuels

A total of 241 retail gas and convenience sites predominantly Mobil-branded and located across Canada were sold.

Global Fuels has acquired Greenergy's Canadian fuel retail business, which consists of 241 retail gas and convenience locations from Nova Scotia to British Columbia.

As one of the largest Canadian networks, the stations are predominantly Mobil-branded and located adjacent to Loblaw grocery stores in many of the larger communities across the country.

"This acquisition is a perfect fit for us. It is consistent with our strategy to develop the leading gas station network in Canada while deepening our relationship with Imperial as a strategic Branded Wholesaler of the Esso, Mobil, and Esso Cardlock business," said Dave Armstrong, CEO of Global Fuels.

The deal is expected to be completed later this year after achieving regulatory clearance and certain customary closing conditions.

"Following three years of significant growth and development, Greenergy is divesting its Canadian retail business to focus development on its renewable project pipeline," added Christian Flach, CEO of Greenergy.