Particle.news
Download on the App Store
15 ARTICLES
·
8h ago

Sunoco to Acquire Parkland in $9.1B Deal, Creating Largest Independent Fuel Distributor in the Americas

The agreement includes commitments to maintain Canadian operations, while shareholder and regulatory approvals remain pending.

Image
Cars line up at a Sunoco gas station offering high-level ethanol-gasoline blends at a cost below regular gasoline, on April 13, 2022, in Delray Beach, Fla. Credit: AP Photo/Marta Lavandier
Cars fill up at a Sunoco gas station near Rockbridge, Ohio.
The ESSO gas station at Strachan Ave. and King St. West is photographed on Mar 17 2021. Fred Lum/The Globe and Mail

Overview

  • Sunoco LP has signed a $9.1 billion cash-and-stock agreement to acquire Calgary-based Parkland Corp., including assumed debt.
  • The combined company will operate over 11,000 fueling and convenience locations across the Americas, making it the largest independent fuel distributor in the region.
  • Parkland shareholders will vote on the deal at a rescheduled meeting on June 24, while Simpson Oil challenges the delay in court.
  • Sunoco has pledged to retain Parkland’s Calgary headquarters, safeguard Canadian jobs, and invest in the Burnaby refinery.
  • The transaction remains subject to shareholder, court, and regulatory approvals, including a review under the Investment Canada Act.