Sunoco Continues Spending Spree With $9.1 Billion Parkland Acquisition

Sunoco LP, a Dallas-based fuel distributor, has revealed its plan to acquire Parkland Corporation. The acquisition, valued at $9.1 billion in cash and stock, will see Sunoco expanding its presence in Canada and the Caribbean while reinforcing its position in North American fuel supply and distribution. The deal includes the assumption of debt and involves the creation of a new entity called SUNCorp. Sunoco aims to achieve $250 million in synergies by the third year and anticipates immediate positive impacts on cash flow. The transaction is set to close in the second half of 2025 pending approval from shareholders and regulators. Sunoco will maintain Parkland’s Canadian headquarters in Calgary and continue investing in its transportation energy infrastructure. This acquisition signifies a significant move in cross-border consolidation within the fuel industry.