Parkland acquired by Sunoco LP
On November 3, 2025, Parkland Corporation ("Parkland") announced the completion of its acquisition by Sunoco LP ("Sunoco").
Pursuant to a definitive agreement, dated May 5, 2025, Sunoco acquired all outstanding shares of Parkland in a cash and equity transaction valued at approximately US$9.1 billion, including assumed debt.
Under the terms of the definitive agreement, effected by way of a plan of arrangement under the Business Corporations Act (Alberta), Parkland shareholders received 0.295 units in a new publicly-traded Delaware limited liability company formed by Sunoco, named SUNCorp, LLC ("SUNCorp"), as well as C$19.80 for each Parkland share held. Parkland shareholders were also given the option to elect to receive C$44.00 per Parkland share in cash or 0.536 units of SUNCorp for each Parkland share, subject to certain conditions outlined in the agreement.
With the closing of the transaction, the shares of Parkland are expected to be delisted from the Toronto Stock Exchange on November 4, 2025.
The common units of SunocoCorp to be received by Parkland shareholders in connection with the transaction will begin trading on the New York Stock Exchange on November 6, 2025 under the ticker symbol "SUNC" following the settlement of the Parkland shares and completion of the allocation process for the SunocoCorp common units.
Further information can be found on PR Newswire’s website and on sunocolp.com.
Parkland was a leading international fuel distributor, marketer, and convenience retailer with safe and reliable operations in twenty-six countries across the Americas.
SunocoCorp is a publicly traded limited liability company that owns a direct limited partner interest in Sunoco LP.
Sunoco is a leading energy infrastructure and fuel distribution master limited partnership operating in over 40 U.S. states, Puerto Rico, Europe, and Mexico. Its midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 100 terminals, complementing its fuel distribution operations, which serve approximately 7,400 Sunoco and partner branded locations and additional independent dealers and commercial customers.