Parkland Corporation Market Research Report

Background

Overview

Parkland Corporation, formerly known as Parkland Fuel Corporation, is a leading international fuel distributor, marketer, and convenience retailer headquartered in Calgary, Alberta, Canada. Established in 1977, the company operates across 26 countries in the Americas, serving over one million customers daily. Parkland's diverse operations encompass retail fuel stations, commercial fuel distribution, and fuel supply and wholesaling. The company is recognized for its commitment to safety, integrity, community, and respect.

Mission and Vision

Parkland's mission is to power what moves people by delivering safe and reliable fuel and convenience services. Its vision focuses on being the first choice for customers through proprietary brands, differentiated offerings, an extensive network, competitive pricing, reliable service, and a compelling loyalty program.

Primary Area of Focus

The company's primary focus includes:

• Retail Fuel Stations: Operating under various brands such as Ultramar, Esso, Fas Gas Plus, Pioneer, Chevron, and On the Run, Parkland manages a vast network of fuel stations across Canada, the United States, and the Caribbean.

• Commercial Fuel Distribution: Supplying fuel products, including propane, diesel, and heating oil, to commercial customers through brands like Bluewave Energy, Sparlings, and Ultramar.

• Fuel Supply and Wholesaling: Engaging in the procurement, storage, and distribution of fuel products to meet the needs of various markets.

Industry Significance

As of 2025, Parkland was the largest independent fuel retailer in Canada and the second-largest convenience store operator in the country. The company's extensive network and diverse operations have solidified its position as a significant player in the North American fuel distribution and convenience retailing industry.

Key Strategic Focus

Core Objectives

• Customer Advantage: Aiming to be the first choice for customers by offering proprietary brands, differentiated products, an extensive network, competitive pricing, reliable service, and a compelling loyalty program.

• Supply Advantage: Achieving the lowest cost to serve among independent fuel marketers and distributors in the markets it operates, leveraging well-positioned assets, significant scale, and deep supply and logistics capabilities.

Specific Areas of Specialization

• Retail Fueling: Managing a diverse portfolio of fuel stations and convenience stores across multiple regions.

• Commercial Fuel Distribution: Providing a range of fuel products to commercial and industrial customers.

• Renewable Energy Initiatives: Engaging in co-processing bio-feedstocks at its Burnaby Refinery to produce low-carbon-intensity fuels.

Key Technologies Utilized

• Co-Processing Technology: Utilizing advanced refining processes to blend bio-feedstocks with traditional fuels, reducing carbon intensity.

• Ultra-Fast EV Charging: Operating one of Canada's fastest-growing ultra-fast electric vehicle charging networks.

Primary Markets Targeted

• Canada: Serving a vast network of fuel stations and convenience stores.

• United States: Expanding operations through acquisitions in states like Montana, Idaho, Arizona, and Florida.

• Caribbean: Operating in the Caribbean region, providing fuel and convenience services.

Financials and Funding

Funding History

Parkland Corporation has grown through a combination of organic growth and strategic acquisitions, including:

• Acquisition of Pioneer Energy: In 2014, Parkland acquired Pioneer Energy, an Ontario gas station chain with 393 stations, for $378 million.

• Acquisition of CST Brands' Canadian Assets: In 2016, Parkland acquired most of CST Brands' Canadian assets for $965 million, including the majority of the Ultramar chain.

• Acquisition of Chevron's Canadian Downstream Fuel Operations: In 2017, Parkland acquired Chevron's Canadian downstream fuel operations for $1.5 billion, including the Burnaby Refinery and 129 Chevron gas stations in British Columbia.

Recent Funding Rounds

In May 2025, Sunoco LP announced a definitive agreement to acquire all outstanding shares of Parkland in a cash and equity transaction valued at approximately $9.1 billion, including assumed debt. The transaction was completed on October 31, 2025, making Sunoco the largest independent fuel distributor in the Americas, with over 11,000 retail locations.

Notable Investors

Following the acquisition, Parkland became a subsidiary of Sunoco LP, a leading energy infrastructure and fuel distribution master limited partnership operating across 32 countries and territories in North America, the Greater Caribbean, and Europe.

Intended Utilization of Capital

The acquisition by Sunoco LP is expected to:

• Enhance Financial Position: Provide immediate accretion to distributable cash flow per common unit and achieve $250 million in run-rate synergies by Year 3.

• Expand Geographic Footprint: Diversify Sunoco's portfolio and geographic presence, leveraging Parkland's extensive network.

• Accelerate Growth: Increase cash flow generation for reinvestment and distribution growth.

Pipeline Development

As of January 2026, Parkland Corporation operates as a subsidiary of Sunoco LP, and specific details regarding pipeline development are integrated into Sunoco's strategic initiatives.

Technological Platform and Innovation

Proprietary Technologies

• Co-Processing Technology: Parkland has been involved in co-processing bio-feedstocks at its Burnaby Refinery to produce low-carbon-intensity fuels.

Significant Scientific Methods

• Co-Processing: The company utilizes advanced refining processes to blend bio-feedstocks with traditional fuels, reducing carbon intensity.

AI-Driven Capabilities

Specific details regarding AI-driven capabilities are not publicly disclosed.

Leadership Team

Key Executives

• Bob Espey: President and CEO of Parkland Corporation.

• Jorge Jimenez Neubauer Torres: Chairman and Chief Investment Officer.

Professional Backgrounds and Contributions

• Bob Espey: As President and CEO, Espey has been instrumental in leading Parkland's growth and strategic direction.

• Jorge Jimenez Neubauer Torres: Serving as Chairman and Chief Investment Officer, Torres has played a key role in overseeing Parkland's investment strategies and corporate governance.

Competitor Profile

Market Insights and Dynamics

The fuel distribution and convenience retailing industry is characterized by significant competition, with major players operating extensive networks across North America. The market is influenced by factors such as fuel price volatility, regulatory changes, and the transition towards renewable energy sources.

Competitor Analysis

• Alimentation Couche-Tard: A leading convenience store operator with a vast network across North America.

• Imperial Oil: An integrated oil company with significant retail operations in Canada.

• Shell Canada: A subsidiary of Shell plc, operating a network of fuel stations and convenience stores.

Strategic Collaborations and Partnerships

Parkland has engaged in various strategic collaborations, including:

• Acquisition of M&M Food Market: In January 2022, Parkland acquired frozen-food retailer M&M Food Market for $332 million, expanding its food service offerings.

• Partnership with FreeWire Technologies: In late-October 2022, Parkland announced a deal with U.S.-based EV charger company FreeWire Technologies to install EV chargers at 25 locations across British Columbia.