Parkland and Sunoco LP’s Hart-Scott-Rodino Act Waiting Period Expires

The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the HSR Act) has expired concerning Sunoco LP’s (NYSE: SUN) pending acquisition of Parkland Corporation (“Parkland”) (TSX: PKI), marking an important step towards the completion of the Transaction. The closing of the acquisition is anticipated to occur in the fourth quarter of 2025, subject to securing additional regulatory approvals and meeting customary closing conditions.

Parkland Corporation is a prominent international fuel distributor, marketer, and convenience retailer operating across twenty-six countries in the Americas. With approximately 4,000 retail and commercial locations spanning Canada, the United States, and the Caribbean region, Parkland is committed to meeting the fuel and convenience requirements of diverse consumers. Beyond providing essential fuels, Parkland offers a range of environmentally friendly options, including the production and blending of renewable fuels, ultra-fast EV charging, carbon credits, renewable solutions, and solar power.

At the core of Parkland’s strategy are its Customer Advantage and Supply Advantage pillars. The Customer Advantage focuses on becoming the preferred choice of consumers by offering exclusive brands, competitive pricing, a wide network, reliable services, and attractive loyalty programs. On the other hand, the Supply Advantage centers on achieving optimal cost efficiency among independent fuel marketers in challenging markets through strategic assets, large scale, and robust supply and logistics capabilities.

Sunoco LP (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership with operations across more than 40 U.S. states, Puerto Rico, Europe, and Mexico. The partnership boasts an extensive network comprising approximately 14,000 miles of pipeline and over 100 terminals to support its midstream operations. This infrastructure complements Sunoco’s fuel distribution operations, serving around 7,400 Sunoco and partner branded locations, independent dealers, and commercial clients. SUN’s general partner is owned by Energy Transfer LP (NYSE: ET).

Certain statements in this announcement constitute forward-looking information and statements, with a focus on the timely completion of the Transaction. While uncertainties and risks may affect the actual outcome, Parkland and Sunoco are dedicated to navigating potential challenges to ensure the successful conclusion of the acquisition. It is important to acknowledge the regulatory and market conditions, as well as other internal and external factors, that could impact the culmination of the Transaction.

As Parkland and Sunoco progress towards finalizing the acquisition, both entities remain committed to their values of safety, integrity, community, and respect. By leveraging their respective strengths and capabilities, the partnership aims to enhance operational efficiency, expand market reach, and deliver enhanced value to customers across the geographical regions they serve.