DALLAS, June 22, 2016 /PRNewswire/ -- Sunoco LP
(NYSE: SUN) ("Sunoco") announced today that one of its wholly owned
subsidiaries completed the acquisition of the "Rattlers" retail
convenience store assets and wholesale fuel business from Kolkhorst
Petroleum, Inc. This acquisition includes 14 company-operated
locations and wholesale fuel supply contracts for a network of
independent dealer-owned and dealer-operated locations in the
greater Austin, Houston and Waco,
Texas markets. The business distributes approximately
46 million gallons of retail and wholesale fuel annually. As
part of the transaction, Sunoco's subsidiary acquired five fee
properties and nine leased properties related to the retail
business. This acquisition strengthens Sunoco's existing
convenience store and wholesale fuel distribution business in the
Central and Southeast Texas
markets. This transaction was funded using amounts
available under Sunoco's revolving credit facility and is expected
to be immediately accretive to Sunoco with respect to distributable
cash flow.
About Sunoco LP
Sunoco LP (NYSE: SUN) is a master limited partnership that
operates approximately 1,300 retail fuel sites and convenience
stores (including APlus, Stripes, Aloha Island Mart and Tigermarket
brands) and distributes motor fuel to convenience stores,
independent dealers, commercial customers and distributors located
in 30 states at approximately 6,800 sites. Our parent -- Energy
Transfer Equity, L.P. (NYSE: ETE) -- owns Sunoco's general partner
and incentive distribution rights. For more information, visit the
Sunoco LP website at www.SunocoLP.com
Cautionary Statement Relevant to Forward-Looking
Information
This press release includes forward-looking statements regarding
future events. These forward-looking statements are based on
Sunoco's current plans and expectations and involve a numbers of
risks and uncertainties that could cause actual results and events
to vary materially from the results and events anticipated or
implied by such forward-looking statements. For a further
discussion of these risks and uncertainties, please refer to the
"Risk Factors" section of Sunoco's most recently filed annual
report on Form 10-K and in other filings made by Sunoco with the
Securities and Exchange Commission. While Sunoco may elect to
update these forward-looking statements at some point in the
future, it specifically disclaims any obligation to do so, even if
new information becomes available.
Investor Contacts
Sunoco LP:
Scott Grischow
Senior Director – Investor Relations and Treasury
(469) 646-1188, scott.grischow@sunoco.com
Patrick Graham
Senior Analyst – Investor Relations and Finance
(610) 833-3776, patrick.graham@sunoco.com
Anne Pearson
Dennard-Lascar Associates
(210) 408-6321, apearson@dennardlascar.com
Media Contact
Sunoco LP:
Jeff Shields
Communications Manager
215-977-6056, jpshields@sunoco.com
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SOURCE Sunoco LP