Sunoco LP announced that the previously announced $9.1 billion acquisition of Parkland Corporation (TSX: PKI) is expected to close on October 31, 2025, subject to customary closing conditions.
The partnership also disclosed that Common Units of SunocoCorp LLC, which will be issued to Parkland shareholders in connection with the transaction, are expected to begin trading on the New York Stock Exchange on November 3, 2025 under the ticker symbol "SUNC".
Upon closing, SunocoCorp will hold an approximate 27 % limited‑partner interest in Sunoco LP’s outstanding common units, providing a significant ownership stake in the partnership’s diversified fuel distribution and midstream portfolio.
The acquisition was first announced on May 5, 2025, and the consideration offered to Parkland shareholders includes the option to receive 0.295 SunocoCorp units and C$19.80 per Parkland share, or to elect C$44.00 cash or 0.536 SunocoCorp units, subject to proration.
Sunoco LP expects to achieve $250 million in run‑rate synergies by Year 3 post‑closing, and the transaction is projected to be immediately accretive, with over 10 % accretion to distributable cash flow per common unit by Year 3.
SunocoCorp LLC will be treated as a corporation for tax purposes. The transaction has received approval from Parkland’s shareholders and regulatory bodies, including the Canadian government.
Sunoco LP’s general partner is owned by Energy Transfer LP (NYSE: ET), providing context for the partnership’s corporate structure.
The acquisition is expected to create the largest independent fuel distributor in the Americas, enhancing Sunoco’s scale and diversifying its portfolio and geographic footprint. It also reflects Sunoco’s commitment to safeguarding Canadian jobs, retaining Parkland’s Calgary head office, and continuing investment in Canada, including the Burnaby refinery’s sustainable aviation fuel production.
Risks associated with the transaction include integration challenges, potential business disruptions, and dilution for existing Sunoco unitholders.
The announcement contains forward‑looking statements that involve uncertainties and assumptions that could cause actual results to differ materially.
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