U.S.-based Sunoco has announced a $9.1 billion acquisition of Canadian fuel supplier Parkland to create the largest independent fuel distributor in the Americas. Parkland’s board unanimously approved the deal, which offers a 25% premium to shareholders, but its largest investor, Simpson Oil, criticised the move and unsuccessfully sought a court injunction to halt it. The acquisition includes Parkland’s 4,000 retail sites and the Burnaby refinery, a key fuel source for British Columbia. While some shareholders remain undecided, analysts say Sunoco is well-positioned for this deal, which is expected to close in the second half of 2025.
