Sunoco LP (NYSE: SUN) and Parkland Corporation (TSX: PKI) have announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act") in connection with Sunoco's pending acquisition of Parkland. This is a significant regulatory milestone necessary for the completion of the transaction, which is expected to close in the fourth quarter of 2025, subject to obtaining other regulatory approvals and the satisfaction of certain customary closing conditions.
Sunoco LP, a leading energy infrastructure and fuel distribution master limited partnership, operates in over 40 U.S. states, Puerto Rico, Europe, and Mexico. It boasts an extensive network of approximately 14,000 miles of pipeline and over 100 terminals, complementing its fuel distribution operations serving approximately 7,400 Sunoco and partner-branded locations, along with additional independent dealers and commercial customers.
Parkland Corporation, on the other hand, is a leading international fuel distributor, marketer, and convenience retailer with operations in twenty-six countries across the Americas. It has approximately 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region, offering a range of choices to help customers lower their environmental impact, including manufacturing and blending renewable fuels, ultra-fast EV charging, carbon credits and renewables solutions, and solar power.
The acquisition of Parkland by Sunoco represents a strategic move that aligns with Parkland's focus on two interconnected pillars: customer advantage and supply advantage. Parkland aims to be the first choice of its customers through its proprietary brands, differentiated offers, extensive network, competitive pricing, reliable service, and compelling loyalty program. Simultaneously, it seeks to achieve the lowest cost to serve among independent fuel marketers and distributors in the hard-to-serve markets in which it operates, through well-positioned assets, significant scale, and deep supply and logistics capabilities.
Today the company's shares have moved -1.43% to a price of $48.42. For more information, read the company's full 8-K submission here.
