Sunoco LP (NYSE: SUN) and Parkland Corporation (TSX: PKI) have successfully received approval from the Canadian government for the proposed acquisition of Parkland by Sunoco. This transaction is anticipated to close in the fourth quarter of 2025, pending the attainment of certain remaining regulatory approvals and fulfillment of customary closing conditions.
Sunoco LP, a prominent 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. The partnership's fuel distribution operations serve about 7,400 Sunoco and partner-branded locations, along with independent dealers and commercial customers.
On the other hand, Parkland Corporation is a leading international fuel distributor, marketer, and convenience retailer with operations in twenty-six countries across the Americas. With around 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region, Parkland has developed supply, distribution, and trading capabilities to drive growth and business performance.
Sunoco's and Parkland's businesses are underpinned by their respective strategies. Parkland focuses on two interconnected pillars: its customer advantage and its supply advantage. The company 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. Moreover, Parkland seeks to achieve the lowest cost to serve among independent fuel marketers and distributors in the hard-to-serve markets in which it operates.
Specific figures regarding the financial metrics of Sunoco LP and Parkland Corporation were not provided in the press release. The market has reacted to these announcements by moving the company's shares 1.66% to a price of $50.25. For more information, read the company's full 8-K submission here.
