Sunoco's Acquisition of Parkland Corporation Approved by Canadian Government Under Investment Canada Act

Sunoco has announced that the acquisition of Parkland Corporation has been approved by the Government of Canada under the Investment Canada Act.

Sunoco LP (NYSE: SUN) and Parkland Corporation (TSX: PKI) have received approval from the Government of Canada for their proposed acquisition under the Investment Canada Act, as announced on October 14, 2025 in a PR Newswire release. The approval marks a significant milestone in the transaction, which is expected to close in the fourth quarter of 2025, subject to obtaining certain remaining regulatory approvals and the satisfaction or waiver of customary closing conditions, according to a Stocktitan article.

Parkland Corporation, a leading international fuel distributor, marketer, and convenience retailer, operates in twenty-six countries across the Americas. With approximately 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region, Parkland's extensive network meets the fuel and convenience needs of everyday consumers and businesses. Parkland's strategy is focused on two interconnected pillars: Customer Advantage and Supply Advantage, which aim to position the company as the first choice for customers through proprietary brands, competitive pricing, and reliable service, as noted in the PR Newswire release.

Sunoco LP, a leading energy infrastructure and fuel distribution master limited partnership, operates in over 40 U.S. states, Puerto Rico, Europe, and Mexico. The Partnership's extensive network of approximately 14,000 miles of pipeline and over 100 terminals complements its fuel distribution operations, serving approximately 7,400 Sunoco and partner branded locations and additional independent dealers and commercial customers, according to the PR Newswire release.

The acquisition is expected to create synergies by leveraging Parkland's extensive retail and commercial operations and Sunoco's robust midstream infrastructure. The combined entity will have a significant presence in North America, with a strong focus on renewable fuels and carbon credits, aligning with global trends towards sustainable energy, the PR Newswire release added.

The forward-looking statements contained in the announcement highlight potential risks and uncertainties, including the completion of the transaction on the anticipated terms and timing, potential disruptions to business operations, and changes to business relationships. Investors and stakeholders are advised to review the detailed risk factors and uncertainties outlined in the companies' filings with the U.S. Securities and Exchange Commission (SEC) and the Canadian Securities Administrators (CSA) for a comprehensive understanding of the transaction's potential impacts, as described in the PR Newswire release.

For further information, investors can contact Parkland Corporation at 1-855-355-1051, and media inquiries can be directed to 1-855-301-5427.