Assuming all goes as planned, Parkland Corp. will officially get a new owner on Halloween.
Sunoco LP’s $9.1 billion deal to buy Calgary, Alberta-based Parkland is expected to be finalized Friday, the convenience retailers announced Monday.
The 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 shareholders approved the transaction on June 24, with more than 93% of votes cast in favor at the annual and special meeting.
“I am excited about Parkland’s next phase of growth with Sunoco, the power of the combined platform, and have confidence in the Company’s ability to deliver significant synergies and long-term value for its stakeholders,” Parkland President and CEO Bob Espey said in a statement Monday.
Parkland on Monday 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.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.