Parkland Corporation to be acquired by Sunoco LP

On May 5 2025, Parkland Corporation and Sunoco LP announced they had reached a definitive agreement whereby Sunoco will purchase all of Parkland's outstanding shares. This acquisition will be conducted through a combination of cash and equity, with the total transaction valued at around $9.1 billion, which includes the assumption of Parkland's debt. As part of the deal, Sunoco plans to establish a new publicly-traded Delaware limited liability company called SUNCorp, LLC ("SUNCorp"). SUNCorp will possess limited partnership units in Sunoco.

Parkland Corporation based in Calgary Alberta, is a an energy and retail company.

Sunoco LP based in Dallas, Texas is a company that specializes in energy infrastructure and fuel distribution, structured as a master limited partnership.

McCarthy Tétrault LLP advised Parkland Corporation with respect to the filings made under the Competition Act and the Investment Canada Act. Our team was led by Jason Gudofsky, that included Gideon Kwinter and Madison Bruno (Competition/Anti-trust) and Sven Milelli (M&A).