DALLAS, Aug. 31, 2016 /PRNewswire/ -- Sunoco LP
(NYSE: SUN) ("Sunoco") announced today the completion of the
acquisition of the fuels business (the "Fuels Business") from
Emerge Energy Services LP (NYSE: EMES) ("Emerge") for $167.7 million, plus working capital
adjustments. The Fuels Business comprises Arlington-based Direct Fuels LLC and
Birmingham-based Allied Energy
Company LLC, both wholly owned subsidiaries of Emerge, and engages
in the processing of transmix and the distribution of refined
fuels.
The Fuels Business includes two transmix processing plants with
attached refined product terminals located in the Birmingham, Alabama and greater Dallas, Texas metro areas. Combined, the
plants can process over 10,000 barrels per day of transmix, and the
associated terminals have over 800,000 barrels of storage
capacity.
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 SUN'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 SUN's most recently filed
annual report on Form 10-K and in other filings made by SUN 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
(469) 646-1328, 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, jeff.shields@sunoco.com
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SOURCE Sunoco LP