Sunoco to acquire Parkland Corp. in $9.1 billion transaction
- Sunoco LP
- 4 hours ago
- 1 min read

Sunoco LP and Parkland Corp. announced May 5 that the parties have entered into a definitive agreement whereby Sunoco will acquire all outstanding shares of Parkland in a cash and equity transaction valued at approximately $9.1 billion, including assumed debt.  Â
As part of the transaction, Sunoco intends to form a new publicly traded Delaware limited liability company named SunCorp LLC. Â
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SUNCorp will hold limited-partnership units of Sunoco that are economically equivalent to Sunoco’s publicly traded common units on the basis of one Sunoco common unit for each outstanding SUNCorp unit. Â
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This new publicly traded entity will be treated as a corporation for tax purposes. Â
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Sunoco has secured a $2.65 billion 364-day bridge term loan for the proposed cash consideration.Â
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The transaction has been unanimously approved by the board of directors of both companies and is expected to close in the second half of 2025 upon the satisfaction of closing conditions, including approval by Parkland’s shareholders and customary regulatory and stock-exchange listing approvals.Â
Sunoco said it is committed to continuing to invest in Parkland’s innovative Burnaby refinery, which produces low-carbon fuels, while maintaining safe, healthy and growing operations for the long-term. Â
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The refinery will continue to operate and supply fuel within the lower mainland.Â
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Sunoco also said it will continue to support Parkland’s plan to expand its Canadian transportation-energy infrastructure.   Â