Sunoco Reverses Course, Buys Parkland in $9.1B Deal

Just a year after largely exiting the retail business, Sunoco is diving back in with a $9.1 billion acquisition of Parkland Corp., a move that makes it the largest independent fuel distributor in the Americas.

• Back in the game: The deal adds more than 3,600 retail locations to Sunoco’s network, a dramatic reversal from its 2024 sale of stores to 7-Eleven. Sunoco’s vast infrastructure of pipelines and terminals will now fuel the expanded retail footprint across North America and the Caribbean.

• A push from shareholders: The acquisition follows pressure from Parkland shareholders over the company's performance, which prompted the departure of President and CEO Bob Espey after a 14-year run.

• Hitting the big board: As the deal closes, Parkland’s shares will be delisted from the Toronto Stock Exchange on November 4. The new entity, SunocoCorp LLC, will begin trading on the New York Stock Exchange under the ticker "SUNC" on November 6.

Now, Sunoco faces the task of merging Parkland's assets into its operations. "Our focus is on building a stronger, more efficient retail platform that combines Parkland’s local expertise with Sunoco’s operational scale,” said Sunoco CEO Joseph Kim. The leadership change at Parkland mirrors a broader trend across the convenience store industry, with both Murphy USA and United Dairy Farmers also naming new CEOs in a busy year for the sector.