SALT LAKE CITY, May 12, 2025 /PRNewswire-HISPANIC PR WIRE/ — Banner Capital Management, LLC (“Banner”), a private equity firm focused on partnering with founder-led and family-owned businesses in the lower middle market, today announced the appointment of James Reed as an Operating Partner & Senior Advisor.

In this role, Mr. Reed will help lead and coordinate Banner’s value creation efforts in close collaboration with portfolio company leadership. He will also serve as Chairman of Banner’s Operations Group & Advisor Network, and as Executive Chairman of Western Pavement Services, a recently announced Banner portfolio company.

Mr. Reed brings more than 25 years of experience in executive and financial leadership across industries including transportation, technology, and financial services. His past roles include leadership positions at Walmart, Intel, EMC, T-Mobile, and J.P. Morgan Chase.

He previously led publicly traded USA Truck, where he spent nearly six years as Chief Executive Officer and served as Chief Financial Officer prior to that. During his tenure, he led a successful turnaround of the business, culminating in the company’s acquisition by German transportation firm D.B. Schenker in September 2022.

He holds an MBA in Finance from Brigham Young University.

“We’re thrilled to welcome James to our team,” said Tanner Ainge, Founder & CEO of Banner. “At Banner, our top priority is to be true partners—supporting management teams with new challenges while preserving the unique characteristics that have made them successful historically. That means taking a collaborative and customized approach to value creation. James brings the experience, humility, and leadership style that aligns with this philosophy.”

“I’m passionate about making a positive impact and helping others reach their full potential,” said Mr. Reed. “At this stage in my career, I’m excited to work with the Banner team and its portfolio companies—particularly those embarking on their first chapter with institutional capital. I look forward to helping these businesses grow and create enduring value.”

About Banner
Banner Capital Management, LLC is a private equity firm focused on investing in family-owned and founder-led businesses in the Western United States. The firm targets the services, consumer, industrial and healthcare sectors. As of December 31, 2024, the firm has $522.5 million in assets under management (AUM).

For more information, visit www.bannercap.com.

Logo – https://mma.prnewswire.com/media/2543269/Banner_Left_RGB_Logo.jpg 

SOURCE Banner Capital Management

New flagship financial center at 2 Bryant Park in New York City

Continuing its expansion, company to open centers in Boise, Idaho and 60 other markets

CHARLOTTE, N.C., May 13, 2025 /PRNewswire-HISPANIC PR WIRE/ — Bank of America will open more than 150 new financial centers across 60 markets by the end of 2027, including 40 this year and an additional 70 in 2026. Since 2016, Bank of America has invested over $5 billion in its financial centers network, opening new locations and renovating existing centers.

“Our continued investment in our financial center network reflects our commitment to meeting our clients where they are and how they want to bank with us,” said Holly O’Neill, President, Consumer, Retail and Preferred at Bank of America. “We are focused on creating spaces where financial specialists can meet with clients and help them achieve their financial goals.”

New flagship center
Bank of America has just opened a new flagship financial center at 2 Bryant Park in New York City. The center is designed for clients to connect with financial specialists, or have informal meetings, capturing the spirit of Bryant Park’s famous tables and chairs which have hosted gatherings for New Yorkers and visitors for decades. The center also features a one-of-a-kind art installation by a NY-based artist portraying the perpetual motion of finance and the city, and how the bank helps bring together all its services for clients.

Idaho Expansion
Bank of America continues to expand into markets where it can extend its reach to clients. The bank currently serves consumer, small business, wealth management and corporate clients throughout Idaho and will soon open four financial centers serving Boise, the first of which will open June 9 in Nampa, Idaho.

“Opening centers in Boise is an exciting milestone and reflects our commitment to bringing first-class financial services to more communities,” said Will Smayda, Head of Financial Centers for Bank of America. “We’re proud to support local economies by creating jobs and fostering long-term relationships with clients and their communities.”Más de una década de expansión e inversion

More than a decade of expansion and investment
Since 2014, Bank of America has steadily expanded its financial center network, entering into 11 new markets, the most recent being Louisville in 2024. The company has also opened 471 financial centers in existing markets since 2016 reflecting trends in how and where clients choose to engage with the bank.

Last year, the bank completed renovations to more than 3,000 centers – with over 500 additional renovations planned over the next two years. Through a partnership with ArtLifting, over 1,600 financial centers now feature artwork by artists living with disabilities or impacted by housing insecurity.

New sign language service for clients
Earlier this year, the bank launched a service to provide on-demand American Sign Language (ASL) interpreters over video in all financial centers. Clients can connect with an ASL interpreter free of charge by scanning a QR code, allowing them to discuss their financial needs using ASL with a financial specialist.

Serving more clients in more places
Bank of America currently provides banking access to nearly 250 million people across more than 200 markets, or approximately 82% of the U.S. population. Nearly 30% of the bank’s financial centers are in low- and moderate-income communities.

With more than 90% of client interactions taking place through the bank’s digital channels, the bank’s financial centers have adapted to focus on meeting spaces where clients can have in-depth conversations about their finances.

In the past year, clients have made approximately 10 million appointments with financial specialists in financial centers.

Additional media assets, including b-roll video and images are available.

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters May Contact:
Andy Aldridge, Bank of America
Phone: 1.980.387.0514
[email protected]

Photo – https://mma.prnewswire.com/media/2685797/Bank_of_America_Corporation_2_Bryant_Park_Exterior.jpg
Photo – https://mma.prnewswire.com/media/2685798/Bank_of_America_Corporation_2_Bryant_Park_Interior.jpg
Photo – https://mma.prnewswire.com/media/2685800/Bank_of_America_Corporation_Candles_by_Rob_Chin.jpg
Photo – https://mma.prnewswire.com/media/2685799/Bank_of_America_Corporation_ASL_Interpreters.jpg
Logo – https://mma.prnewswire.com/media/1612970/Bank_of_America_Corporation_Logo.jpg

SOURCE Bank of America Corporation

JACKSONVILLE, Fla., May 12, 2025 /PRNewswire-HISPANIC PR WIRE/ — Copán, the second vessel in Crowley’s Avance Class fleet of LNG-powered containerships, has begun its inaugural commercial operations from the Port of Jacksonville, Florida (JAXPORT), further expanding the company’s capacity and enhancing speed of ocean shipping for the Caribbean Basin.

Named for one of the most important archaeological sites of the Mayan civilization in Honduras, Copán was specifically designed to quickly and frequently deliver cargo while using lower emission liquefied natural gas (LNG) for fuel.

These capabilities make the Avance Class vessels — pronounced in Spanish “ah-bahn-seh” with the English meaning of advance — uniquely suited to quickly transport perishable goods like food and pharmaceuticals, as well as retail products, apparel, breakbulk cargo between the U.S., Central America and the Dominican Republic. The 1,400-TEU (20-foot equivalent units) ships can serve diverse container sizes for dry cargo and feature capacity for 300 refrigerated containers in their weekly port calls.

“Copán and its sister ships continue our investments to innovate our frequent and fast ocean carrier capabilities to meeting the critical needs of customer in the U.S., Central America and the Dominican Republic,” said Brett Bennett, senior vice president and general manager, Crowley Logistics. “These vessels build on Crowley’s decades-long commitment for diverse and robust supply chain solutions in the Caribbean Basin while advancing LNG as a solution in the maritime industry’s ongoing energy transition.”

With its name, Copán and its sister ships embody Central America’s rich cultural heritage while reflecting the beauty and significance of this extraordinary part of the world. Not far from the border with Guatemala, Copán is a former citadel with public squares that reveal its three main stages of development before the city was abandoned in the early 10th Century.

Crowley initiated service of the first ship in its Avance Class, Quetzal, in April, and two more ships are expected to initiate service this year under charter with Eastern Pacific Shipping.

About Crowley
Crowley is a private-held, U.S.-owned and -operated maritime, energy and logistics solutions company. For more than 130 years, its portfolio of businesses has provided innovative ocean and land transportation services for the commercial and government sectors. As a global ship owner and operator, Crowley serves 36 nations and island territories and is one of the leading employers of U.S. mariners. Visit www.crowley.com to learn more.

Contact:

Logo – https://mma.prnewswire.com/media/1931889/crowley_Logo.jpg

SOURCE Crowley

CALGARY, AB, May 5, 2025 /PRNewswire-HISPANIC PR WIRE/ — Parkland Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX: PKI), today announced its full financial and operating results for the three months ended March 31, 2025.

“Our first quarter of 2025 saw a recovery from 2024 as the refinery offset a slow start to the year and a one-time $53 million impact due to a decision to exit the California compliance market,” said Bob Espey, President and Chief Executive Officer. “It is still early in the year, and as we assess performance across our business, we are encouraged by several positive developments. Our International segment continues to deliver strong growth, refining margins have been stronger than anticipated, and we expect a robust driving season in Canada. While the macroeconomic and regulatory environment remains volatile, these tailwinds highlight the resilience of our portfolio and reinforce my confidence in the foundation we have built at Parkland.”

Q1 2025 Highlights

• Achieved Adjusted EBITDA¹ of $375 million, an increase of $48 million as compared to Q1 2024, primarily driven by the 11-week unplanned shutdown of the Burnaby Refinery in the comparative period and strong performance in the International business. These were partially offset by the commercial decision to wind down our California compliance market positions, resulting in realized losses of $53 million within the Canadian segment², and weaker performance in the USA.
• Net earnings of $64 million ($0.37 per share, basic), as compared to net loss of $5 million ($0.03 per share, basic) in Q1 2024, and Adjusted earnings³ of $65 million ($0.37 per share, basic³), as compared to $43 million ($0.25 per share, basic) in Q1 2024.
• Trailing twelve months (“TTM”) Available cash flow³ of $586 million ($3.37 per share³), as compared to $762 million ($4.34 per share) as of March 31, 2024. TTM Cash generated from (used in) operating activities⁴ of $1,604 million ($9.21 per share⁴), as compared to $1,683 million ($9.56 per share) as of March 31, 2024. These decreases were largely due to a significantly lower refining margin environment during the second half of 2024, realized losses due to the wind down of our California compliance market positions in the first quarter of 2025, and higher acquisition, integration and other costs during the last nine months of 2024 primarily associated with restructuring activities and implementing enterprise-wide systems.
• Return on invested capital³ (“ROIC”) was 7.6 percent for the trailing twelve months ended March 31, 2025 as compared to 8.9 percent, for the same period in 2024.
• Maintained Leverage Ratio⁵ of 3.6 times (3.6 times in Q4 2024) and liquidity available⁴ of $2 billion.

Q1 2025 Segment Highlights

• Canada delivered Adjusted EBITDA of $110 million, as compared to $186 million in Q1 2024. The decrease was primarily driven by the commercial decision to wind down our California compliance market positions, resulting in realized losses of $53 million, and the sale of the commercial propane business in Q4 2024.
• International delivered Adjusted EBITDA of $181 million, as compared to $147 million in Q1 2024. The increase was driven by higher volume and margins in the commercial and wholesale businesses from strategic and recurring customers and strength in our South American region.
• USA delivered Adjusted EBITDA of $16 million, as compared to $31 million in Q1 2024. The decrease was driven by macroeconomic pressures continuing to impact fuel and convenience demand in line with broader industry trends, as well as regulatory developments that also impacted Parkland’s ability to capture supply optimization opportunities associated with moving refined product between Canada and the U.S.
• Refining delivered Adjusted EBITDA of $79 million, as compared to an Adjusted EBITDA loss of $33 million in Q1 2024. The increase relative to Q1 2024 was primarily driven by an 11-week unplanned shutdown in the comparative period. Composite utilization⁶ at the Burnaby Refinery was approximately 76 percent in Q1 2025, as compared to approximately 20 percent in Q1 2024. The Burnaby Refinery successfully completed a three-week planned maintenance in the quarter and performed safely and reliably which allowed us to benefit from favourable market conditions.
• Parkland’s total recordable injury frequency rate⁶ on a TTM basis was 1.13, compared to 1.07 at Q1 2024.

Consolidated Financial Overview

Q1 2025 Conference Call and Webcast Details

Following the announcement of Parkland’s definitive agreement to be acquired by Sunoco LP and associated conference call held earlier today, our planned webcast and conference call on Thursday, May 6, 2025, at 6:30 am MT (8:30 am ET) has been cancelled.

MD&A and Annual Consolidated Financial Statements

The Management’s Discussion and Analysis for the three months ended March 31, 2025 (the “Q1 2025 MD&A”) and Interim Condensed Consolidated Financial Statements for the three months ended March 31, 2025 (the “Q1 2025 Condensed Consolidated Financial Statements”) provide a detailed explanation of Parkland’s operating results for the three months ended March 31, 2025. An English version of these documents will be available online at www.parkland.ca and the System for Electronic Data Analysis and Retrieval+ (“SEDAR+”) after the results are released by newswire under Parkland’s profile at www.sedarplus.ca. The French versions of the Q1 2025 MD&A and the Q1 2025 Condensed Consolidated Financial Statements will be posted to www.parkland.ca and SEDAR+ as soon as they become available.

About Parkland Corporation

Parkland is a leading international fuel distributor, marketer, and convenience retailer with safe and reliable operations in 26 countries across the Americas. Our retail network meets the fuel and convenience needs of everyday consumers. Our commercial operations provide businesses with fuel to operate, complete projects and better serve their customers. In addition to meeting our customers’ needs for essential fuels, Parkland provides a range of choices to help them lower their environmental impact, including manufacturing and blending renewable fuels, ultra-fast EV charging, a variety of solutions for carbon credits and renewables, and solar power. With approximately 4,000 retail and commercial locations across Canada, the United States and the Caribbean region, we have developed supply, distribution and trading capabilities to accelerate growth and business performance.

Our strategy is focused on two interconnected pillars: our Customer Advantage and our Supply Advantage. Through our Customer Advantage, we aim to be the first choice of our customers through our proprietary brands, differentiated offers, extensive network, competitive pricing, reliable service, and compelling loyalty program. Our Supply Advantage is based on achieving the lowest cost to serve among independent fuel marketers and distributors in the hard-to-serve markets in which we operate, through our well-positioned assets, significant scale, and deep supply and logistics capabilities. Our business is underpinned by our people and our values of safety, integrity, community and respect, which are embedded across our organization.

Forward-Looking Statements

Certain statements contained herein constitute forward-looking information and statements (collectively, “forward-looking statements”). When used the words “expect”, “will”, “could”, “would”, “believe”, “continue”, “pursue” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things: business strategies, objectives and initiatives; ; International’s continued strong growth; an expected robust driving season in Canada; portfolio resilience; and confidence in Parkland’s foundation.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligation to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to: the strategic review that Parkland initiated on March 5, 2025 (the “Strategic Review”), the process and the timing thereof, whether the strategic review will result in Parkland undertaking a transaction, and if so, the terms and timing relating thereto, the completion thereof and realizing benefits resulting therefrom; general economic, market and business conditions; micro and macroeconomic trends and conditions, including increases in interest rates, inflation, imposition of tariffs and fluctuating commodity prices; Parkland’s ability to execute its business objectives, projects and strategies, including the completion, financing and timing thereof, realizing the benefits therefrom, meeting our targets, outlook and commitments relating thereto, and the impact of the Strategic Review thereon; and other factors, many of which are beyond the control of Parkland and the assumptions and risks described in “Cautionary Statement Regarding Forward-Looking Information” and “Risk Factors” included in Parkland’s most recently filed Annual Information Form, and in “Forward-Looking Information” and “Risk Factors” in the Q4 2024 MD&A, each as filed on SEDAR+ and available on the Parkland website at www.parkland.ca. The forward-looking statements contained in this news release as expressly qualified by these cautionary statements.

Specified Financial Measures

This news release contains total of segments measures, non-GAAP financial measures and non-GAAP financial ratios, supplementary financial measures and capital management measures (collectively, “specified financial measures”). Parkland’s management uses certain specified financial measures to analyze the operating and financial performance, leverage, and liquidity of the business. These specified financial measures do not have any standardized meaning under International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) and are therefore unlikely to be comparable to similar measures presented by other companies. The specified financial measures should not be considered in isolation or used in substitute for measures of performance prepared in accordance with the IFRS Accounting Standards. See Section 15 of the Q1 2025 MD&A, which is incorporated by reference into this news release, for further details regarding specified financial measures used by Parkland.

Non-GAAP Financial Measures and Ratios

Adjusted earnings (loss) is a non-GAAP financial measure and Adjusted earnings (loss) per share is a non-GAAP financial ratio, each representing the underlying core operating performance of business activities of Parkland at a consolidated level. The most directly comparable financial measure to Adjusted earnings (loss) and Adjusted earnings (loss) per share is Net earnings (loss).

Adjusted earnings (loss) and Adjusted earnings (loss) per share represent how well Parkland’s operational business is performing, while considering depreciation and amortization, interest on leases and long-term debt, accretion and other finance costs, and income taxes. The Company uses these measures because it believes that Adjusted earnings (loss) and Adjusted earnings (loss) per share are useful for management and investors in assessing the Company’s overall performance, as they exclude certain items that are not reflective of the Company’s underlying business operations.

See Section 15 of the Q1 2025 MD&A, which is incorporated by reference into this news release, for the detailed definition and composition of Adjusted earnings (loss) and Adjusted earnings (loss) per share.

Please see below for the reconciliation of Adjusted earnings (loss) to net earnings (loss) and the calculation of Adjusted earnings (loss) per share.

Available cash flow is a non-GAAP financial measure and Available cash flow per share is a non-GAAP financial ratio. The most directly comparable financial measure for Available cash flow and Available cash flow per share is cash generated from (used in) operating activities. Parkland uses these measures to set targets (including annual guidance and variable compensation target) and monitor its ability to generate cash flow for capital allocation, including distributions to shareholders, investment in the growth of the business, and deleveraging. See Section 15 of the Q1 2025 MD&A, which is incorporated by reference into this news release, for the detailed definition and composition of Available cash flow and Available cash flow per share. See the following table for a calculation of historical Available cash flow and Available cash flow per share and a reconciliation to cash generated from (used in) operating activities.

ROIC is a non-GAAP financial ratio. The measure is calculated as a ratio of Net operating profit after tax (“NOPAT”) divided by average invested capital. NOPAT describes the profitability of Parkland’s base operations, excluding the impact of leverage and certain other items of income and expenditure that are not considered representative of Parkland’s underlying core operating performance. NOPAT is based on Adjusted EBITDA, defined in the “Measures of Segment Profit (Loss) and Total of Segments Measures” section of this news release, less depreciation and amortization expense, including pro-forma depreciation on assets classified as held for sale, and the estimated tax expense using the expected average tax rate estimated using statutory tax rates in each jurisdiction where Parkland operates. Average invested capital is the amount of capital deployed by Parkland that represents the average of opening and closing debt, including debt liabilities classified as held for sale, as well as shareholder’s equity, including equity reserves, net of cash and cash equivalents. We use this non-GAAP measure to assess Parkland’s efficiency in investing capital.   

These non-GAAP financial measures and ratios should not be considered in isolation or used in substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Except as otherwise indicated, these non-GAAP financial measures and ratios are calculated and disclosed on a consistent basis from period to period. See Section 15 of the Q1 2025 MD&A, which is incorporated by reference into this news release, for further details regarding Parkland’s non-GAAP financial measures and ratios.

Capital Management Measures

Parkland’s primary capital management measure is the Leverage Ratio, which is used internally by key management personnel to monitor Parkland’s overall financial strength, capital structure flexibility, and ability to service debt and meet current and future commitments. In order to manage its financing requirements, Parkland may adjust capital spending or dividends paid to shareholders or issue new shares or new debt. The Leverage Ratio is calculated as a ratio of Leverage Debt to Leverage EBITDA and does not have any standardized meaning prescribed under IFRS Accounting Standards. It is, therefore, unlikely to be comparable to similar measures presented by other companies. The detailed calculation of the Leverage Ratio is as follows:

Measures of Segment Profit (Loss) and Total of Segments Measures

Adjusted earnings (loss) before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) is a measure of segment profit (loss) and its aggregate is a total of segments measure used by the chief operating decision maker to make decisions about resource allocation to the segment and to assess its performance. In accordance with IFRS Accounting Standards, adjustments and eliminations made in preparing an entity’s financial statements and allocations of revenue, expenses, and gains or losses shall be included in determining reported segment profit (loss) only if they are included in the measure of the segment’s profit (loss) that is used by the chief operating decision maker. As such, Parkland’s Adjusted EBITDA is unlikely to be comparable to measures of segment profit (loss) presented by other issuers, who may calculate these measures differently. Parkland views Adjusted EBITDA as the key measure for the underlying core operating performance of business segment activities at an operational level. Adjusted EBITDA is used by management to set targets for Parkland (including annual guidance and variable compensation targets) and is used to determine Parkland’s ability to service debt, finance capital expenditures and provide for dividend payments to shareholders. See Section 15 of the Q1 2025 MD&A, which is incorporated by reference into this news release, for the detailed definition and composition of Adjusted EBITDA. Refer to the table below for the reconciliation of Adjusted EBITDA to net earnings (loss), which is the most directly comparable financial measure, for the three months ended March 31, 2025 and March 31, 2024.

Supplementary Financial Measures

Parkland uses a number of supplementary financial measures, including TTM Cash generated from (used in) operating activities, TTM Cash generated from (used in) operating activities per share and liquidity available, to evaluate the success of our strategic objectives. These measures may not be comparable to similar measures presented by other issuers, as other issuers may calculate these measures differently. See Section 15 of the Q1 2025 MD&A, which is incorporated by reference into this news release, for further details regarding supplementary financial measures used by Parkland, including the composition of such measures.

Non-Financial Measures

Parkland uses a number of non-financial measures, including composite utilization and total recordable injury frequency rate, to measure the success of our strategic objectives and to set variable compensation targets for employees, where applicable. These non-financial measures are not accounting measures, do not have comparable IFRS Accounting Standards measures, and may not be comparable to similar measures presented by other issuers, as other issuers may calculate these metrics differently. See Section 15 of the Q1 2025 MD&A, which is incorporated by reference into this news release, for further details on the non-financial measures used by Parkland.

 For Further Information: Investor Inquiries: 1-855-355-1051, [email protected]; Media Inquiries: 1-855-301-5427, [email protected]

Logo – https://mma.prnewswire.com/media/2679196/Parkland_Corporation_Parkland_Reports_2025_First_Quarter_Results.jpg 

SOURCE Parkland Corporation

GRAND RAPIDS, Mich., May 8, 2025 /PRNewswire-HISPANIC PR WIRE/– Meijer opened three new 159,000-square-foot supercenters in Northeast Ohio today, bringing value and one-stop shopping to customers in Austintown, Medina, and Richmond Heights.

Known for its fresh grocery selection and unbeatable value, Meijer offers an expansive farm-fresh produce section featuring hundreds of USDA-certified organic items as well as a great deli and meat department. Meijer supercenters also feature full-service pharmacies and general merchandise, including baby and pet departments, apparel, beauty care, floral departments, and garden centers.

The new supercenters offer time-saving digital shopping solutions, including Shop & Scan, which allows shoppers to scan barcodes via the Meijer mobile app and bag their items as they shop to make checkout more expedient. The stores also feature deep discounts on surplus food via the Flashfood app, convenient shopping through Meijer Home Delivery and Pickup services, and mPerks rewards to help customers earn on every dollar spent.

“As a family company that’s been serving Midwest customers for 90 years, we are humbled to be able to continue bringing our unique shopping experience to more communities,” Executive Chairman Hank Meijer said. “Meijer invests in the communities we serve, and we look forward to partnering with local organizations and helping to strengthen each of these communities.”

Meijer opened its first store in Ohio in 1981. In the last few years, the retailer has invested more than half a billion dollars into Northeast Ohio by opening and remodeling nearly 25 stores, creating jobs, and contributing to the missions of local nonprofits. Meijer employs more than 12,000 team members statewide at 58 stores and distribution and manufacturing facilities in Tipp City.

“Our three new store teams are already working hard to deliver value and convenience to our customers, and we’re thankful for their dedication and passion,” Meijer President & CEO Rick Keyes said. “We are confident Austintown, Medina, and Richmond Heights customers are going to love having Meijer be part of their community.”

Meijer Store Directors Patrick Hughes, Carol Lester, and Marcella Mathis and their teams welcomed customers into the stores with a round of applause when the doors opened. This was later followed by ribbon-cutting events attended by Keyes and members of the Meijer family.

Prior to opening the new stores, Meijer demonstrated its support of all three communities by making $90,000 in donations to 10 local organizations. In Austintown, Hughes and the store’s team members donated to The Hope Foundation of Mahoning Valley and the St. Vincent DePaul Foundation of Youngstown. In Medina, Lester and her team donated to The Children’s Center of Medina County, Feeding Medina County, Cups Café, Medina County Habitat for Humanity, and the Medina Fire Department‘s “After the Fire” program. In Richmond Heights, Mathis and her team donated to the Richmond Heights Education Foundation, the Community Partnership on Aging, and Empowering Epilepsy.

Meijer donates at least 6 percent of its net profit to the community annually, and each of its stores works with local food banks and pantries to help fight hunger. Since 2008, the retailer’s Simply Give program has generated more than $100 million for its food pantry partners throughout the Midwest. The stores each selected their first Simply Give partners, which include Austintown Community Church for the Austintown store, Feeding Medina County for the Medina store, and The Bin Food Pantry for the Richmond Heights store.

Continuing the retailer’s ongoing efforts to ensure accessibility for all customers, the stores feature new, larger, height-adjustable changing tables in the family restrooms for the added convenience and dignity of customers with disabilities and their caregivers. As in all Meijer stores, the new supercenters also offer free access to Aira, an app-based service that provides live navigation assistance to blind and low-vision customers using the camera on their smartphones.

About Meijer: Meijer is a privately owned, family-operated retailer that serves customers at more than 500 supercenters, grocery stores, neighborhood markets, and express locations throughout the Midwest. As the pioneer of the one-stop shopping concept, more than 70,000 Meijer team members work hard to deliver a friendly, seamless in-store and online shopping experience featuring an assortment of fresh foods, high-quality apparel, household essentials, and health and wellness products and services. Meijer is consistently recognized as a Great Place to Work and annually donates at least 6 percent of its profit to strengthen its communities. Additional information on the company can be found by visiting newsroom.meijer.com. 

Logo – https://mma.prnewswire.com/media/773739/Meijer_Logo.jpg

SOURCE Meijer

CALGARY, AB, May 5, 2025 /PRNewswire-HISPANIC PR WIRE/ — Sunoco LP (NYSE: SUN) (“Sunoco” or the “Partnership”) and Parkland Corporation (TSX: PKI) (“Parkland”) announced today that they have entered into a definitive agreement whereby Sunoco will acquire all outstanding shares of Parkland in a cash and equity transaction valued at approximately U.S.$9.1 billion, including assumed debt (the “Transaction”).

“This strategic combination is a compelling outcome for Parkland shareholders,” said Michael Jennings, Executive Chairman of Parkland. “The Board unanimously recommends the proposed transaction, recognizing Sunoco’s commitment to safeguarding Canadian jobs, retaining the Calgary head office, and further investing in Canada. This partnership creates significant financial benefits for shareholders and would position the combined company as the largest independent fuel distributor in the Americas.”

“Today marks a significant milestone,” said Bob Espey, President and CEO of Parkland. “This transaction delivers immediate value for shareholders, including an attractive 25% premium. Sunoco shares our commitment to growth, customer service, operational excellence, and ongoing investment in Canada, making our combined business stronger and better positioned for sustained success.”

Strategic Rationale

• Compelling Financial Benefits: Immediately accretive, with 10%+ accretion to distributable cash flow per common unit and U.S.$250 million in run-rate synergies by Year 3. The combined company expects to return to Sunoco’s 4x long-term leverage target within 12-18 months post-close.
• Industry Leading Scale and Stability: Complementary assets enables advantaged fuel supply and further diversifies Sunoco’s portfolio and geographic footprint.
• Accelerated Accretive Growth: Increases cash flow generation for reinvestment and distribution growth.

Continued Commitment to Canada and Responsible Stewardship

• Employment in Canada: Sunoco will maintain a Canadian headquarters in Calgary and significant employment levels in Canada. 
• Burnaby Refinery: Sunoco is committed to continuing to invest in Parkland’s innovative refinery, which produces low-carbon fuels, while maintaining safe, healthy and growing operations for the long-term. The refinery will continue to operate and supply fuel within the Lower Mainland.
• Transportation Energy Infrastructure Expansion: Sunoco will continue to support Parkland’s plan to expand its Canadian transportation energy infrastructure. 
• Expanded Investment Opportunities: The combined company’s expanded free cash flow will provide additional resources for reinvestment in Canada, the Caribbean, and the United States in support of both existing and new opportunities.

Transaction Details

Under the terms of the agreement, Parkland shareholders will receive 0.295 SUNCorp units and C$19.80 for each Parkland share, implying a 25 per cent premium based on the 7-day VWAP’s of both Parkland and Sunoco as of May 2, 2025. Parkland shareholders can elect, in the alternative, to receive C$44.00 per Parkland share in cash or 0.536 SUNCorp units for each Parkland share, subject to proration to ensure that the aggregate consideration payable in connection with the transaction does not exceed C$19.80 in cash per Parkland share outstanding as of immediately before closing and 0.295 SUNCorp units per Parkland share outstanding as of immediately before close. For a period of two years following closing of the transaction, Sunoco will ensure that SUNCorp unitholders will receive the same dividend equivalent as the distribution to Sunoco unitholders.

The proposed Transaction will be effected pursuant to a plan of arrangement under the Business Corporations Act (Alberta), which is required to be approved by an Alberta court. The Transaction will require approval by 66 2/3 per cent of the votes cast by the shareholders of Parkland. The agreement also contains an option whereby Sunoco, at its election any time before the Meeting (defined below), may elect to effect and complete the Transaction on the same terms by way of a take-over bid, which would require support from Parkland shareholders owning at least 50 per cent of Parkland’s outstanding shares. The directors and senior officers of Parkland, collectively holding 0.7 per cent of the Parkland shares, have entered into customary voting support agreements, pursuant to which they have committed to vote their common shares held in favour of the Transaction.

In addition to shareholder and court approvals, the Transaction is subject to applicable regulatory approvals, including approvals under the Investment Canada Act, approval of the listing of the SUNCorp shares to be issued under the Transaction on the NYSE, and the satisfaction of certain other closing conditions customary for a transaction of this nature. Subject to the satisfaction of such conditions, the Transaction is expected to close in the second half of 2025. The agreement includes customary deal protections, including fiduciary-out provisions, non-solicitation covenants, and the right to match any superior proposals, subject to Parkland paying a break fee in the amount of $275 million in certain circumstances.

Full details of the Transaction will be included in the Parkland management information circular.

Board of Directors Recommendation

On March 5, 2025, Parkland announced that its Board of Directors had initiated a review of strategic alternatives aimed at identifying opportunities to maximize value for all shareholders. A special committee of independent directors (the “Special Committee”) was appointed to oversee and lead this comprehensive review.

Following this announcement, discussions with Sunoco intensified significantly, leading to the Transaction.

Based on the unanimous recommendation of Parkland’s Special Committee, and following thorough consultation with its financial and legal advisors, Parkland’s Board of Directors has unanimously approved the Transaction. The Board strongly recommends that shareholders vote in favour of the Transaction.

Goldman Sachs Canada Inc. and BofA Securities have each provided opinions to the Parkland Board of Directors, and BMO Capital Markets has provided an opinion to the Parkland Special Committee, to the effect that, as of the date thereof, and based upon and subject to the assumptions, limitations and qualifications stated in each such opinion, the right to receive, at the option of each Parkland shareholder, either (i) an amount in cash equal to the quotient obtained by dividing C$19.80 by 45%, (ii) the number of common units representing limited liability company interests in SUNCorp equal to the quotient obtained by dividing 0.295 by 55% or (iii) a combination of C$19.80 in cash and 0.295 common units representing limited liability company interests in SUNCorp is fair, from a financial point of view, to the shareholders of Parkland (other than Sunoco and its affiliates). The full text of each such fairness opinion, which sets forth the assumptions made, procedures followed, matters considered and limitations on the review undertaken in connection with each such opinion, will be included in the Parkland management information circular. None of BofA Securities, Goldman Sachs Canda Inc. or BMO Capital Markets express an opinion or recommendation as to how any Parkland shareholder should vote or act in connection with the Transaction or any other matter.

Annual and Special Meeting

Parkland intends to hold a special meeting of Parkland shareholders on June 24, 2025, to approve the Transaction. The annual general meeting of Parkland shareholders, which was originally scheduled for May 6, 2025, has been cancelled and will instead be held on June 24, 2025 concurrent with the special meeting (the annual and special meeting of Parkland Shareholders is referred to as the “Meeting”), allowing Parkland’s shareholders adequate time to fully evaluate the Transaction and its benefits. Shareholders as of the record date of May 23, 2025 will be eligible to vote at the Meeting. In addition to the business of the Meeting already described in Parkland’s management information circular dated April 7, 2025, Parkland will file a new 2025 management information circular, which will also contain information about the Transaction.

The current directors have agreed to stand for election at the upcoming Meeting in order to consummate the Transaction, if supported by Parkland’s shareholders. These directors have agreed to stand down in favour of any alternative slate if the Transaction is not supported.

Advisors

Goldman Sachs Canada Inc. and BofA Securities served as financial advisors to Parkland. BMO Capital Markets acted as financial advisor to Parkland’s Special Committee. Norton Rose Fulbright Canada LLP acted as Parkland’s legal advisor. Torys LLP acted as legal advisor to Parkland’s Special Committee.

Barclays and RBC Capital Markets served as the exclusive financial advisors to Sunoco. Barclays and RBC Capital Markets provided committed financing. Stikeman Elliot LLP, Weil, Gotshal & Manges LLP, and Vinson & Elkins LLP acted as Sunoco’s legal advisors. 

Conference Call Information

Sunoco LP and Parkland Corporation management will hold a conference call on Monday, May 5 at 8:30 a.m. Eastern Standard Time (7:30 a.m. Central Standard Time) to discuss the transaction. To participate, dial 877-407-6184 (toll free) or 201-389-0877 at least 10 minutes before the call and ask for the Sunoco LP conference call. The conference call will also be accessible live and for later replay via webcast in the Investor Relations section of Sunoco’s website at www.SunocoLP.com under Webcasts and Presentations.

About Parkland

Parkland is a leading international fuel distributor, marketer, and convenience retailer with safe and reliable operations in twenty-six countries across the Americas. Our retail network meets the fuel, and convenience needs of everyday consumers. Our commercial operations provide businesses with fuel to operate, complete projects and better serve their customers. In addition to meeting our customers’ needs for essential fuels, Parkland provides a range of choices to help them lower their environmental impact, including manufacturing and blending renewable fuels, ultra-fast EV charging, a variety of solutions for carbon credits and renewables, and solar power. With approximately 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region, we have developed supply, distribution, and trading capabilities to accelerate growth and business performance.

Our strategy is focused on two interconnected pillars: our Customer Advantage and our Supply Advantage. Through our Customer Advantage, we aim to be the first choice of our customers through our proprietary brands, differentiated offers, extensive network, competitive pricing, reliable service, and compelling loyalty program. Our Supply Advantage is based on achieving the lowest cost to serve among independent fuel marketers and distributors in the hard-to-serve markets in which we operate, through our well-positioned assets, significant scale, and deep supply and logistics capabilities. Our business is underpinned by our people and our values of safety, integrity, community, and respect, which are embedded across our organization.

About Sunoco

Sunoco LP (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating in over 40 U.S. states, Puerto Rico, Europe, and Mexico. The Partnership’s midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 100 terminals. This critical infrastructure complements the Partnership’s fuel distribution operations, which serve approximately 7,400 Sunoco and partner branded locations and additional independent dealers and commercial customers. SUN’s general partner is owned by Energy Transfer LP (NYSE: ET).

Forward-Looking Statements

Certain statements contained herein constitute forward-looking information and statements (collectively, “forward looking statements”). When used in this news release, the words “continue”, “commit”, “enhance”, “ensure”, “expect”, “increase”, “will”, “would” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things: expected benefits from the Transaction including but not limited to financial benefits for shareholders and increased cash flow generation for reinvestment and distribution growth; Sunoco acquiring all outstanding shares of Parkland in the Transaction, including assumed debt; Sunoco’s intention to list SUNCorp on the New York Stock Exchange; the expectation that SUNCorp will be treated as a corporation for tax purposes; Sunoco’s commitment to maintaining significant employment levels in Canada and retaining the Alberta head office; the belief that the combined company will be the largest independent fuel distributor in the Americas; the forecast that the Transaction will be immediately accretive with 10%+ accretion to distributable cash flow per common unit and U.S.$250 million in run-rate synergies by Year 3; the belief that the Transaction will enhance scale enabling advantaged fuel supply and further diversify Sunoco’s portfolio and geographic footprint; the expectation that the Burnaby Refinery will continue to operate and supply fuel within the Lower Mainland; the belief that combined company’s expanded free cash flow will provide additional resources for reinvestment in Canada, the Caribbean, and the United States in support of both existing and new opportunities; the anticipated timing for closing of the Transaction; the anticipated timing for holding of the special meeting of Parkland shareholders; the filing of Parkland’s new 2025 management information circular including information about the Transaction; the effect, implementation, and completion of the plan of arrangement; the expectation that the current directors of Parkland will stand down in favour of any alternative slate at the upcoming AGM if the Transaction is not supported; and the timing of the joint conference call of Sunoco LP and Parkland.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. These forward-looking statements speak only as of the date hereof. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities laws. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks, assumptions and uncertainties including, but not limited to: general economic, market and business conditions; the completion of the Transaction on anticipated terms and timing, or at all, including obtaining key regulatory approvals and Parkland shareholder approval; anticipated tax treatment; potential litigation relating to the Transaction that could be instituted against Sunoco or Parkland; potential adverse reactions or changes to business relationships, including with employees, suppliers, customers, competitors or credit rating agencies, resulting from the announcement or completion of the proposed transaction; certain restrictions during the pendency of the Transaction that may impact Parkland’s ability to pursue certain business opportunities or strategic transactions or otherwise operate its business; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described under the headings “Cautionary Statement Regarding Forward-Looking Information” and “Risk Factors” in Parkland’s current Annual Information Form dated March 5, 2025, and under the headings “Forward-Looking Information” and “Risk Factors” included in the Q4 2024 Management’s Discussion and Analysis dated March 5, 2025, each as filed on SEDAR+ and available on Parkland’s website at www.parkland.ca.

The forward-looking statements contained herein are expressly qualified by this cautionary statement.

Logo – https://mma.prnewswire.com/media/2679290/Parkland_Corporation_Parkland_Corporation_to_be_Acquired_by_Suno.jpg

SOURCE Parkland Corporation

PLANO, Texas, May 6, 2025 /PRNewswire-HISPANIC PR WIRE/ — Things are about to get reels good, reels fast.

Toyota Financial Services (TFS) is flipping the script on auto finance storytelling with the launch of its brand-new Instagram® channel—a fresh, immersive, and unexpected take on the digital customer experience.

In a world where billions of users scroll through social media channels daily, TFS Instagram (@toyotafinancial) is carving out a unique space, where auto finance meets creativity to reimagine financial storytelling.

PERSONIFYING OUR PRODUCTS

With Instagram’s cutting-edge creative tools, TFS is embracing a new era of brand engagement that goes beyond the expected. What’s ahead?

• Reels that feel more like entertainment than education—but deliver both
• Videos that help viewers de-stress while learning about lease-end options
• Content that turns financial terminology into a sensory experience
• Tutorials that unfold the benefits of smart auto financing

At TFS, we’re not just talking at our audience—we’re immersing them in unexpected, unforgettable experiences.

MORE REACH. MORE ENGAGEMENT.

The expansion to Instagram—alongside our existing TFS Facebook presence—amplifies our ability to connect with a younger, more engaged audience looking for brands that inform, entertain, and inspire.

Through our signature content approach, we’ll bring to life:

• Products & Services – Made simple, engaging, and interactive
• Customer Care & Support – With content that meets people where they are
• Loyalty & Lifestyle Moments – Celebrating the joy of Toyota ownership like never before

FUELING DEALERSHIPS WITH SOCIAL POWER

Through Toyota Social Publishing, Toyota dealers can now opt in—at no cost—to receive ready-to-post TFS social content that can be customized and shared directly on dealership feeds. This powerful tool ensures that TFS storytelling extends beyond a single channel—becoming part of the larger Toyota ecosystem.

JOIN THE MOVEMENT

Toyota fans, dealers, team members, and partners are invited to follow @toyotafinancial on Instagram and be part of a movement that’s redefining what it means to engage with financial services.

This isn’t just another Instagram page—it’s a whole new way of thinking. Buckle up, because this is just the beginning.

©2025 Toyota Motor Credit Corporation d/b/a Toyota Financial Services. All rights reserved.

Toyota Financial Services is a service mark used by Toyota Motor Credit Corporation (TMCC). Retail installment accounts may be owned by TMCC or its securitization affiliates and lease accounts may be owned by Toyota Lease Trust (TLT) or its securitization affiliates.  TMCC is the servicer for accounts owned by TMCC, TLT, and their securitization affiliates.

The Instagram® name, logo, brand, products, and other trademarks, tradenames or images referred to herein are the property of their respective trademark holders. Unless otherwise disclosed, these trademark owners are not affiliated with Toyota Financial Services (TFS) and do not sponsor or endorse TFS, or any of its respective websites, products, or comments. TFS declares no affiliation, sponsorship, nor any partnerships with any registered trademarks unless otherwise disclosed.

About Toyota Financial Services

Toyota Financial Services (TFS) is the brand for finance and related products for Toyota in the United States, offering retail auto financing and leasing through Toyota Motor Credit Corporation (TMCC) and Toyota Lease Trust. TFS also offers vehicle and payment protection products through Toyota Motor Insurance Services (TMIS). The company services Lexus dealers and customers using the Lexus Financial Services brand.

As of March 31, 2024, TFS employed approximately 3,800 team members nationwide, and had assets totaling over $149 billion. The company is part of a worldwide network of comprehensive financial services offered by Toyota Financial Services Corporation, a wholly-owned subsidiary of Toyota Motor Corporation.

We announce material financial information using the investor relations section of our website (www.toyotafinancial.com) and SEC filings. We use these channels, press releases, and social media to communicate about our company, our services and other issues. While not all information we post on social media is of a material nature, some information could be material. Therefore, we encourage those interested in our company to review our posts on Facebook at www.facebook.com/toyotafinancial and Instagram at https://www.instagram.com/toyotafinancial/.

Media Contact:
Derrick J. Brown
469-486-9065

Photo – https://mma.prnewswire.com/media/2680217/TFS_IG_Phone.jpg
Logo – https://mma.prnewswire.com/media/745311/Toyota_Financial_Services_Logo.jpg

SOURCE Toyota Financial Services

ATLANTA, May 6, 2025 /PRNewswire-HISPANIC PR WIRE/ — The Home Depot^®, the world’s largest home improvement retailer, announced today that it will hold its First Quarter Earnings Conference Call on Tuesday, May 20, at 9 a.m. ET.

A webcast will be available by logging onto http://ir.homedepot.com/events-and-presentations and selecting the First Quarter Earnings Conference Call icon. The webcast will be archived, and the replay will be available beginning at approximately noon on May 20.

The Home Depot is the world’s largest home improvement retailer. At the end of fiscal 2024, the company operated a total of 2,347 retail stores and over 780 branches across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs over 470,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.

Logo – https://mma.prnewswire.com/media/118058/THE_HOME_DEPOT_LOGO_v1.jpg 

SOURCE The Home Depot