DALLAS, Oct. 16, 2018 /PRNewswire/ -- Sunoco LP (NYSE:
SUN) ("Sunoco") announced today the completion of the acquisition
of BRENCO Marketing Corporation's fuel distribution business for
approximately $24 million plus
working capital adjustments. The acquired wholesale fuels
business distributes approximately 95 million gallons of fuel
annually across a network of approximately 160 dealer and
commission agent-operated locations and 100 commercial accounts in
Central and East Texas.
The acquisition is consistent with Sunoco's strategy of
utilizing its scale to grow the core fuel distribution business.
The transaction was funded using cash on hand and amounts
available under Sunoco's revolving credit facility.
About Sunoco LP
Sunoco LP (NYSE: SUN) is a master limited partnership that
distributes motor fuel to approximately 9,900 retail stores,
commission agent locations, 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)
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. 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 the Partnership's Annual Report on
Form 10-K and other documents filed from time to time with the
Securities and Exchange Commission. The Partnership undertakes no
obligation to update or revise any forward-looking statement to
reflect new information or events.
The information contained in this press release is available on
our website at www.SunocoLP.com
Contacts
Scott Grischow
Senior Director – Investor Relations and Treasury
(214) 840-5660, scott.grischow@sunoco.com
Derek Rabe, CFA
Manager – Investor Relations, Strategy and Growth
(214) 840-5553, derek.rabe@sunoco.com
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SOURCE Sunoco LP