DALLAS, April 2, 2018 /PRNewswire/ -- Sunoco LP (NYSE:
SUN) ("Sunoco") today announced the completion of the conversion of
its 207 retail sites located in certain West Texas, Oklahoma and New
Mexico markets to a single commission agent. With this
conversion complete, Sunoco's transition out of the majority of its
convenience store operations in the continental U.S. is effectively
complete. Sunoco will continue to operate sites along the
New Jersey and New York toll roads along with its retail
operations in Hawaii.
Under the commission agent model, Sunoco owns, prices and sells
fuel at the sites, paying the agent a fixed cents-per-gallon
commission. In addition, Sunoco continues to own approximately
two-thirds of this portfolio in fee and will receive rental income
from the commission agent, who will conduct all operations related
to the convenience store and any related restaurant locations.
About Sunoco LP
Sunoco LP (NYSE: SUN) is a master
limited partnership that distributes motor fuel to approximately
9,200 convenience stores, independent dealers, commercial customers
and distributors located in more than 30 states. SUN's general
partner is owned by Energy Transfer Equity, L.P. (NYSE:
ETE).
The information contained in this press release is available on
the Sunoco LP website at www.SunocoLP.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Forward-looking statements may be
identified by the use of the words "anticipates," "expects,"
"intends," "plans," "should," "could," "would," "may," "will,"
"believes," "estimates," "potential," "opportunity,"
"value-creating," "designed," "predict," "seek," "ongoing,"
"increases" or "continue" and variations or similar expressions.
Such forward-looking statements are subject to a variety of known
and unknown risks, uncertainties, and other factors that are
difficult to predict and many of which are beyond management's
control. An extensive list of factors that can affect future
results are discussed in Annual Reports on Form 10-K filed by
SUN, ETE and ETP and other documents filed from time to time with
the Securities and Exchange Commission. The partnerships
undertake no obligation to update or revise any forward-looking
statement to reflect new information or events.
Contacts
Sunoco LP
Scott Grischow
Senior Director – Investor Relations and Treasury
(214) 840-5660, scott.grischow@sunoco.com
Derek Rabe, CFA
Senior Analyst – Investor Relations and Finance
(214) 840-5553, derek.rabe@sunoco.com
View original content with
multimedia:http://www.prnewswire.com/news-releases/sunoco-lp-completes-its-conversion-of-west-texas-retail-sites-to-commission-agent-model-300621915.html
SOURCE Sunoco LP