The Esso and Wilsons Gas Stop and Go network! convenience stores will be sold to Couche-Tard, a Quebec company present in 26 countries. Couche-Tard announced the binding agreement on Friday, saying it will end in the first half of next year pending review by the Canadian Competition Bureau.
The agreement covers 79 company-owned convenience stores and gas stations, 147 dealer locations and a marine fuel terminal in Halifax. Convenience stores and gas stations are located throughout the Atlantic provinces.
In an internal staff email, Wilsons president Ian Wilson informed all employees of the deal.
“We will remain in our positions and continue to run the business until the transaction closes,” Wilson wrote, adding that he was committed to ensuring an orderly transition.
“We decided it was a good time for our family to pass the baton on to someone to take this business to the next level,” he wrote.
The Wilson family will still own and operate Wilsons Heating, Wilsons Security, Kerr Controls and Ski Wentworth.
The dollar amount of the deal was not disclosed in the company’s press release. Couche-Tard declined to disclose further details.
In 2016, Wilson Fuel Company purchased 20 Esso gas stations in Nova Scotia and Newfoundland to add to its existing portfolio, saying that at the time, the eighth-generation family business was “looking to grow.” .
The Retail Gasoline Dealers Association of Nova Scotia, which represents the more than 140 independent Wilsons stores, said its members are continuing like nothing has happened.
“I think over time our independents will understand more clearly how this affects them individually, but at this point I think things will go smoothly, as they do now,” said Shannon Trites, Executive Director organisation.