Sunoco closes $9.1B Parkland acquisition

Group 1 - Sunoco completed its $9.1 billion acquisition of Parkland Corp. on October 31, creating a combined entity with an enterprise value of approximately $25.5 billion, making it the largest independent fuel distributor in the Americas [9] - The acquisition includes Parkland's 3,600-plus retail sites across North America, with 699 locations in the U.S., of which 122 are company-owned and operated [9] - Sunoco plans to terminate the executive officers of Parkland who remain with the company, and Parkland's President and CEO Bob Espey will resign after 14 years [9] Group 2 - Sunoco sold many of its convenience store assets to 7-Eleven in 2024 but retained about 76 company-operated c-stores as of early 2024 [3] - Sunoco's President and CEO Joseph Kim indicated that the company will focus on integrating Parkland's assets before exploring further market opportunities [4] - Parkland has faced operational struggles in the U.S., leading to staff cuts and a decline in full-year revenue from $186 million in 2023 to $168 million in 2024 due to unfavorable market conditions [6]