Parkland announces completion of acquisition by Sunoco LP
The much-anticipated acquisition of Parkland Corporation by U.S.-based Sunoco LP has crossed the finish line with both companies announcing the completion of the US$9.1 billion-dollar deal.
In May of this year, Sunoco LP signed an agreement to buy Parkland in a cash-and-stock deal, where at the time of the announcement, Parkland shareholders would receive 0.295 SUNCorp units and C$19.80 for each Parkland share.
The Calgary-based Parkland has some 4,000 locations worldwide and operates the On the Run convenience chain, Pioneer, Ultramar, Esso, Chevron and Fast Gas Plus.
READ: Updated: U.S.-based Sunoco signs deal to purchase Parkland Corp.
"This strategic combination is a compelling outcome for Parkland shareholders," said Michael Jennings, executive chairman of Parkland in a statement upon the announcement of the agreement then signed between the two companies. "The Board unanimously recommends the proposed transaction, recognizing Sunoco’s commitment to safeguarding Canadian jobs, retaining the Calgary head office, and further investing in Canada. This partnership creates significant financial benefits for shareholders and would position the combined company as the largest independent fuel distributor in the Americas."
Parkland shares are expected to be delisted from the Toronto Stock Exchange (TSE) as of the close of markets on Tuesday, November 4, 2025, Sunoco LP posted on its website.
“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 Thursday, 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,” Sunoco LP added.
With files from the Canadian Press.
