Sunoco LP acquires wholesale fuel distribution and terminal in New York

Sunoco LP have announced the execution of a definitive agreement to purchase certain assets from Superior Plus Corporation for approximately $40 million plus working capital adjustments.

The assets purchased by Sunoco consist of a network of approximately 100 dealers, several hundred commercial contracts and three terminals, which are connected to major pipelines serving the Upstate New York market.

The wholesale fuels business sells approximately 200 million gallons of fuel annually through multiple channels. The three terminals have a combined 17 tanks with 429 thousand barrels of storage capacity.

The acquisition fits into 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.

Last Tuesday, Sunoco completed the conversion of its 207 retail sites to a single commission agent.