Sunoco to Acquire Canada's Fuel Supplier Parkland for $9.1B


   
Maria Eugenia Garcia
DTN Energy Editor

   HOUSTON, TX, (DTN) -- Sunoco announced today the acquisition of all 
outstanding shares of Canada's Parkland Corporation in a cash and equity 
transaction valued at nearly $9.1 billion, including assumed debt. 

   The transaction is expected to close in the second half of 2025 upon the 
satisfaction of closing conditions.

   Parkland operates nearly 4,000 retail fuel stations and commercial locations 
across Canada, the United States, and the Caribbean region.

   As part of the transaction, Sunoco expects to form a new publicly-traded 
Delaware limited liability company named SUNCorp, LLC, according to a company 
statement.

   Sunoco plans to invest in Parkland's  55,000 b/d Barnaby refinery, which 
produces low-carbon fuels. The refinery will continue to operate and supply 
fuel within the Lower Mainland.

   "This partnership creates significant financial benefits for shareholders 
and would position the combined company as the largest independent fuel 
distributor in the Americas," said Michael Jennings, executive chairman of 
Parkland.




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