HollyFrontier to Acquire Petro-Canada Lubricants for $845M

HollyFrontier has agreed to acquire Suncor Energy’s Petro-Canada Lubricants business for $845 million. The deal adds Petro-Canada Lubricants’ lubricant production capacity and base oil scale to HollyFrontier’s existing lubricants operations.

The Petro-Canada Lubricants plant in Ontario is described as the largest producer of base oils in Canada, with 15,600 barrels per day of lubricant production capacity. HollyFrontier expects to gain Petro-Canada’s product innovation and R&D capabilities, global sales and distribution network, and global brand portfolio, along with a perpetual license to use the Petro-Canada trademark for lubricants.