Sunoco LP on Friday completed its acquisition of Calgary, Alberta-based Parkland Corp., the company announced on Monday.
The $9.1 billion deal, first announced in May, includes Parkland’s 650 retail outlets and 1,830 dealer sites. Parkland is the second-largest c-store operator in Canada and operates more than 200 stores in the United States under Parkland USA.
The acquisition boosts Dallas-based Sunoco’s total number of U.S. convenience stores to about 275.
- Parkland USA is No. 42 on CSP’s 2025 Top 202 ranking of U.S. convenience-store chains by store count. Sunoco LP is No. 96.
Parkland shares are expected to be delisted from the Toronto Stock Exchange when the markets close on Tuesday, Sunoco said. 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 under the ticker symbol SUNC.
Sunoco LP has its third-quarter 2025 earnings call set for Wednesday.
Parkland on Oct. 27 also released its third-quarter earnings, reporting a significant dip in EBITDA (earnings before interest, taxes, depreciation and amortization) in the U.S. at $28 million versus $52 million a year ago. The retailer blamed the decline on lower fuel margins and other macroeconomic pressures.
Companywide, though, Parkland said its EBITDA rose to $540 million compared with $431 million a year ago.
Sunoco had tried several times to buy Parkland before the companies agreed to the deal, a presentation published May 28 ahead of the upcoming annual and special meeting of Parkland shareholders showed.
Before the deal was announced, Parkland had announced a strategic review of its business. The company had gone through several leadership changes in the past year and faced pushback from some of its largest shareholders.
Sunoco sold 204 c-stores to 7-Eleven Inc. in January 2024, including Stripes convenience stores and Laredo Taco Company restaurants, for approximately $1 billion. That left Sunoco with 75 company-owned retail stores, including 54 Aloha Island Mart c-stores in Hawaii.
Parkland is an international fuel distributor, marketer and convenience retailer with operations in 26 countries across the Americas. It is the second-largest c-store operator in Canada, with 650 retail outlets and 1,830 dealer sites. Parkland USA operates about 211 U.S. stores, under brands including On the Run.
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