Sunoco's Big Move: What's Next for Parkland and Calgary?

Big news on the Calgary business scene! Our very own Parkland Corporation, a familiar name in energy, has officially been acquired by U.S.-based energy infrastructure giant Sunoco LP. This significant transaction concluded on October 31, 2025.

For Parkland shareholders, a change is on the horizon. Shares are slated to be delisted from the Toronto Stock Exchange as of the close of markets on November 4, 2025, with shareholders receiving a mix of cash and SunocoCorp units. Those new common units of SunocoCorp LLC will begin trading on the New York Stock Exchange under the symbol 'SUNC' tomorrow, November 6, 2025.

This acquisition, valued at over $12.5 billion, puts a spotlight on Calgary's crucial role in global energy markets. With Parkland headquartered here, the deal follows a trend of frequent mergers and acquisitions in our resilient energy sector, which continues to diversify into clean energy and hydrogen. Initial local concerns about an American takeover were addressed by Sunoco's commitments to maintain investment in the Burnaby refinery and, crucially, to retain headquarters and jobs right here in Calgary, signaling a positive outlook for foreign investment in our city. Calgary’s economy is projected to outperform provincial and national averages in 2025, underscoring our city's enduring strength. This move could indeed reshape our economic landscape, and Calgarians will be watching closely.