Loblaw Cos. on Friday said it would entertain offers for the sale of its gasoline business following a strategic review.
Loblaw, based in Brampton, Ontario, said its gas bar network is one of the largest in Canada, consisting of 212 retail fuel sites located adjacent to grocery stores in the Loblaw network.
The gas bar network continues to deliver strong and stable cash flows, and it is expected to grow as Loblaw's grocery store network grows, Loblaw said, adding that it believes that the right strategic 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," Grant Froese, COO, said in a statement. "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."
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