Sunoco Continues Spending Spree With $9.1 Billion Parkland Acquisition

Sunoco LP (NYSE: SUN) is bulking up again—this time north of the border. The Dallas-based fuel distributor announced Monday it will acquire Parkland Corporation (TSX: PKI) in a $9.1 billion cash-and-stock deal, including assumed debt. The move expands Sunoco’s footprint deep into Canada and the Caribbean, while consolidating its position in North American fuel supply and distribution. As part of the deal, Sunoco will spin up a new Delaware-based entity, SUNCorp, whose units will trade in lockstep with Sunoco’s current units. Parkland…