The Royalite Oil Company, Limited was a Canadian integrated petroleum company that existed from 1921 to 1969. Royalite was founded by Imperial Oil through the acquisition and reorganisation of Calgary Petroleum Products.[1]
Royalite was incorporated as a dominion corporation on 18 January 1921 with a capitalisation of $1 million. The company's founding directors were Alexander Hannah, Percy LeRoy Sanford, George Crichton Stuart Crosby, Harold Claire Johnston, and Walter Kingsley.[2]
On Sunday, 16 January 1949, Imperial sold its 90 per cent stake in Royalite to Dominion Securities for around $15 million. The decision was based on the recognition that Imperial and Royalite increasingly were market competitors, which placed Imperial in an untenable position relative to its ownership of Royalite.[3]
In the fall of 1962, the British American Oil Company of Toronto offered to purchase all outstanding shares of Royalite. At the time, around 40 per cent of Royalite's share were owned by Montreal's Bronfman family.[4]