Sunoco LP to Acquire Parkland Corporation

Sunoco LP and Parkland Corporation have announced that they entered into a definitive agreement for Sunoco to acquire all outstanding shares of Parkland in a cash and equity transaction valued at approximately $9.1 billion including assumed debt.

As part of the transaction, Sunoco intends to form a new publicly traded limited liability corporation named SUNCorp, LLC, that will hold limited partnership units of Sunoco that are economically equivalent to Sunoco’s publicly traded common units. 

The transaction has been unanimously approved by the board of directors of both companies and is expected to close in the second half of 2025 upon the satisfaction of closing conditions, including approval by Parkland's shareholders and customary regulatory and stock exchange listing approvals.

The complementary assets diversifies Sunoco’s portfolio and geographic footprint and is expected to increase cash flow generation for reinvestment and distribution growth. Sunoco will maintain a Canadian headquarters in Calgary and is committed to continuing to invest in Parkland’s refinery producing low-carbon fuels. Sunocol will also continue to support Parkland’s plan to expand its Canadian transportation infrastructure.

Additional details will be made available today in a presentation on the Investor Relations section of Sunoco's website at www.SunocoLP.com under Webcasts and Presentations and on the Investor section of Parkland's website at www.parkland.ca.