American energy group Sunoco LP announced the completion of its acquisition of Parkland Corporation on October 31. This transaction marks a new step in Sunoco’s expansion in the North American fuel distribution market, strengthening its presence in over 30 countries and territories.
Delisting from the Toronto Stock Exchange and New York Listing
Parkland Corporation’s shares are expected to be delisted from the Toronto Stock Exchange at the close of markets on November 4. Shareholders will receive in exchange common units of SunocoCorp LLC, an affiliate of Sunoco LP, which will begin trading on the New York Stock Exchange under the ticker symbol “SUNC” starting November 6. This transfer is part of the settlement process and allocation of the new units, according to the company’s announcement.
Founded in Canada, Parkland Corporation operated a fuel distribution network across several markets, including Canada, the United States, and the Caribbean. The integration of Parkland allows Sunoco to bolster its downstream capabilities, particularly in retail and commercial distribution.
Expansion of Logistics and Commercial Capabilities
Sunoco LP currently operates approximately 14,000 miles of pipelines and over 160 terminals across North America, the Caribbean, and Europe. This infrastructure supports its fuel distribution activities, which deliver over 15 billion gallons annually to around 11,000 branded retail locations, independent dealers, and commercial customers.
The deal is part of a broader trend of consolidation within the energy distribution sector. Sunoco LP’s general partner is owned by Energy Transfer LP, a major player in the U.S. oil and gas infrastructure space.
