Parkland to acquire M&M Food Market from Searchlight Capital for $322m.

Parkland, an operator and consolidator of convenience retail and fuel marketing businesses, agreed to acquire M&M Food Market, a frozen food retailer, from Searchlight Capital, a private investment firm, for $322m. "This acquisition provides a platform to grow our food offer, expand our proprietary brands, and advance our digital and loyalty strategy. Consistent with our commitment to create convenience destinations, M&M's national store network, and innovative approach to food preparation and menu development positions us to offer high-quality food that complements our growing quick-serve restaurant offerings. We will grow these capabilities in all our operating regions and bolster our digital connection to customers by combining M&M and JOURNIE rewards programs. We look forward to bringing ON the RUN and M&M together to help customers make the most of every stop," Ian White, Parkland SVP Strategic Marketing & Innovation.