Sunoco LP finalized its $9.1 billion acquisition of Parkland Corporation on October 31, 2025, and the following day the company’s shares were delisted from the Toronto Stock Exchange at market close. The delisting removes the dual‑listing and consolidates the transaction into Sunoco’s master limited partnership structure, allowing all former Parkland shareholders to receive SunocoCorp LLC units that began trading on the New York Stock Exchange on November 6, 2025.
The acquisition was driven by Sunoco’s strategy to become the largest independent fuel distributor in the Americas. Management highlighted that the deal delivers immediate accretion to distributable cash flow and is expected to generate more than $250 million in run‑rate synergies by 2028. Sunoco President and CEO Joseph Kim emphasized that integrating Parkland’s distribution network and midstream assets is a top priority, and that the company aims to return its balance sheet to a 4× leverage target.
Parkland’s prior strategic review and leadership changes set the stage for the transaction. The company had faced shareholder pushback and had been the subject of multiple acquisition attempts before the definitive agreement was reached. The combined entity will maintain a Canadian headquarters in Calgary, preserve significant Canadian employment, and continue investing in Parkland’s Burnaby Refinery, underscoring Sunoco’s commitment to its Canadian operations.
The delisting eliminates trading liquidity for the former Parkland shares but confirms that the acquisition is complete. All Parkland shareholders now hold SunocoCorp units, which are treated as a corporation for tax purposes. The move streamlines shareholder reporting and aligns the combined company’s capital structure with Sunoco’s long‑term strategic goals.
Management’s outlook signals confidence in the integration plan. By consolidating the assets and simplifying the ownership structure, Sunoco positions itself to capture the synergies and scale benefits that were central to the acquisition rationale. The transition to a single public listing on the NYSE also provides a broader investor base and a more liquid market for the new entity.
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