M&M Food Market is being acquired by international convenience retail store operator and fuel supplier Parkland Corp.
"Today marks the start of a bold new chapter for our company and stands as a testament to the vision and tireless work of our dedicated team," says Andy O'Brien, CEO, M&M Food Market. "After a comprehensive examination of our experience, our products, profitability, dedicated franchise partners impressive store network, and our business strategy, Parkland concluded that M&M will be an essential part of achieving their long-term goals in the food industry."
Underpinned by their food-first culture, the M&M team will play a leadership role in advancing Parkland's food strategy. The M&M brand, leadership, franchise system, store network, and office in Mississauga, Ontario will remain in place.
"This acquisition provides a platform to meaningfully grow our food offer across all of our markets," says Ian White, SVP Strategic Marketing & Innovation at Parkland. "M&M's innovative approach to food preparation, national store network and menu development allows us to offer new, restaurant-quality food options that complement our existing quick-serve restaurants. We plan to grow this capability in all our operating regions and bolster our connection to customers by combining M&M and JOURNIE™ rewards programs to form a premier loyalty program."
Parkland's focus on creating convenience destinations and growing their food offerings is expected to elevate the strength of the iconic M&M Food Market Brand. Through the transaction, Parkland will also benefit from a national network of more than 300 M&M stores, over 2,000 M&M Express locations, nearly 500 specialty frozen products and M&M's deep investments in technology. Parkland will bring scale and complementary leadership strength that will see M&M Food Market continue to grow in Canada while expanding into new international markets.
Initially known as M&M Meat Shops, the company's first store opened in Kitchener, Ont. in 1980. Throughout the 1990s and 2000s, franchised locations were opened across the country and their products became synonymous with special occasions, entertaining and everyday meals. In 2014, the company was acquired by Searchlight Capital Partners and new leadership undertook the task of a full rebrand, extensive store renovations and a complete menu overhaul to exclude ingredients like artificial flavours, colours and sweeteners. Today, M&M Food Market proudly operates 315 franchised stores and over 2,000 M&M Express locations through innovative partnerships with top retailers including Rexall, Beaudry-Cadrin and Home Hardware.