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Sunoco buying Parkland for $9 billion to create largest retail fueling and convenience store giant in the Americas

Canada's Parkland is selling after losing a bitter proxy fight to billionaire Kyffin Simpson.

Sunoco LP has agreed to acquire Parkland USA's retail fuel and convenience store operations for $3.3 billion, marking a significant expansion of Sunoco's presence in the U.S. retail fueling market. The deal includes 207 convenience stores and fuel stations primarily located in Colorado, and will make Sunoco the largest retail fueling operator in the Americas, with over 10,000 locations. The acquisition is expected to be immediately accretive to Sunoco's distributable cash flow and is part of the company's strategy to grow its presence in high-growth markets. The transaction is subject to regulatory approval and is expected to close in the second half of 2023.

Read the Full Fortune Article at:
https://fortune.com/article/sunoco-buying-parkland-largest-retail-fueling-giant-americas/