Sunoco to buy Parkland in $9 billion deal in fuel distributor consolidation

Sunoco LP said on Monday it would buy Canada-based Parkland in a deal valued at about $9.1 billion, including debt, in a move that would create the largest independent fuel distributor in the Americas.

Under the terms of the agreement, Parkland shareholders will receive C$19.80 in cash and 0.295 Sunoco units for each Parkland share.

The deal is expected to close in the second half of 2025

Sunoco, which operates in wholesale fuel distribution and retail convenience, said the deal is expected to be immediately accretive and generate more than $250 million in run-rate synergies by the third year.