DALLAS, Oct. 12, 2016 /PRNewswire/ -- Sunoco LP
(NYSE: SUN) ("Sunoco") announced today that one of its wholly owned
subsidiaries completed the acquisition of the retail convenience
store assets and wholesale fuel business from Denny Oil for
approximately $53 million. This
acquisition includes six company-operated locations and wholesale
fuel supply contracts for a network of approximately 120
independent dealer-owned and dealer-operated locations and a
commercial fuels business in the Eastern
Texas and Louisiana
markets. The business distributes approximately 90 million
gallons of retail and wholesale fuel annually. This
acquisition strengthens, and in some cases establishes, Sunoco's
existing convenience store and wholesale fuel distribution business
in East Texas and Louisiana. 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 1,340 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 more than 30 states at approximately
6,900 sites. Our parent -- Energy Transfer Equity, L.P. (NYSE: ETE)
-- owns Sunoco's general partner and incentive distribution
rights.
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 number 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
Scott
Grischow
Senior Director – Investor Relations and Treasury
(469) 646-1188, scott.grischow@sunoco.com
Patrick Graham
Senior Analyst – Investor Relations and Finance
(469) 646-1328, patrick.graham@sunoco.com
Media Contact
Jeff
Shields
Communications Manager
(215) 977-6056, jeff.shields@sunoco.com
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SOURCE Sunoco LP