Sunoco LP on Friday completed its acquisition of Calgary, Alberta-based Parkland Corp., the company announced this week.
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
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.
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 recent leadership changes 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.
Full story Sunoco closes on $9.1B Parkland acquisition
Share this:
