Sunoco LP Announces Definitive Agreement to Acquire the Wholesale Fuel Distribution and Terminal Business from Superior Plus Corporation
The implementation of a definitive agreement has been declared by Sunoco LP (Sunoco), which will see the company purchase certain assets from Superior Plus Corporation for an estimated $40 million plus working capital adjustments. A network of around 100 dealers, several hundred commercial contracts and three terminals, which are connected to major pipelines serving the Upstate New York market comprise the assets. Approximately 200 million gallons of fuel is sold annually by the wholesale fuels business through multiple channels. Storage capacity of the three terminals are at a combined 17 tanks with 429 thousand barrels.
Sunoco's strategy of utilizing its scale to grow the core fuel distribution business and adding fee-based refined product terminals into the overall portfolio, is in line with the acquisition. PWKD06042018