On Friday, Loblaws Cos. said it would entertain offers for the sale of its gasoline business after a strategic review.
Based in Brampton, Ontario, the retailer said its gas bar network is one of the largest in Canada, with 212 retail fuel sites adjacent to Loblaws grocery stores.
The gas bars deliver stable cash flows, though the retailer believes that the right partner would further elevate the business and its value to customers.
“Our gas bars have contributed consistently to our bottom line and our offer to customers,” says Grant Froese, COO. “Customers appreciate the convenience of onsite fuel and the benefits of a loyalty program that links gas bar and grocery purchases. We anticipate that these benefits will continue regardless of whether the business is sold.”
