Federated Co-operatives Ltd. is purchasing 181 Husky retail fuel sites from wholly-owned subsidiaries of Cenovus Energy Inc. The $264 million deal represents FCL’s largest ever retail acquisition. The sites include a mix of gas bars, on-site car washes, and convenience stores. Upon closure of the transaction, which is subject to regulatory conditions, FCL will transfer the sites to local Co-ops across Western Canada.
“This historic deal for our organization clearly aligns with our vision of building sustainable communities together and reaffirms our commitment to Western Canada, to our member-owned Co-ops, and to their local members and customers,” FCL CEO Scott Banda said in a release.