Sunoco to Buy Parkland, Expand in Caribbean

Sunoco LP has announced a definitive agreement to acquire Canadian fuel distributor Parkland Corp. in a cash-and-stock deal valued at approximately $9.1 billion, including assumed debt. The acquisition, unanimously approved by both companies' boards, is expected to expand Sunoco's presence across Canada and the Caribbean, further consolidating its position in North American fuel distribution. Parkland shareholders are offered a 25% premium with options for cash or equity in a new Delaware-based entity, SUNCorp. Sunoco projects the deal will deliver $250 million in annual synergies within three years and will be immediately accretive to cash flow, with financing secured through a $2.65 billion bridge loan. This move follows Sunoco's recent acquisition of NuStar Energy and includes a pledge for continued investment in Parkland's Canadian operations, including the Burnaby refinery. The transaction is anticipated to close in the second half of 2025, pending shareholder and regulatory approvals.