Dive Brief:
- Elliott Collyer, Sunoco LP’s vice president of M&A, optimization and real estate, has left the convenience retailer and energy company, Collyer announced via LinkedIn on Wednesday.
- Collyer had been with Parkland Corp. for about 11 years when the Canadian retailer and fuel company sold its assets to Sunoco for over $9 billion last year, according to his LinkedIn bio. He joined Sunoco last November when the deal closed, and had focused on capital deployment, network strategy and growth initiatives.
- It’s not clear how Collyer’s departure may affect Sunoco's M&A strategy. The Dallas-based company has become one of the more acquisitive companies in convenience retail since buying Parkland last year.
Dive Insight:
Collyer did not specify why he is leaving Sunoco in his post, only noting that he’s “wrapped up [his] role following Sunoco's acquisition of Parkland last November.”
He joined Parkland in 2014 when the company was a regional fuel business largely in Western Canada and helped grow it into a scaled North American fuel and convenience platform, according to his announcement. During his time with the company, Collyer led or supported more than $3.5 billion in acquisitions and helped grow the Canadian retail business to over 2,000 locations.
At the time of his departure, he was leading M&A and real estate for Sunoco across Canada and Hawaii, he said in his announcement.
“What's next: I'm focused on acquiring, building, and co-investing in businesses I can help operate and scale — and selectively advising owners, investors, and management teams on sale preparation, acquisitions, and value creation,” Collyer said in his announcement.
Prior to acquiring Parkland, Sunoco had about 76 company-operated convenience retail sites in New Jersey and Hawaii — barely enough to crack the top 100 largest c-store chains in the country. The Parkland deal brought in 122 more company-operated c-stores across the U.S., and since January, Sunoco has acquired 140 sites through three separate acquisitions. Sunoco announced earlier this year that it has a multiyear acquisitions plan totaling at least $500 million annually.
