Sunoco LP acquires fuel distributor

Sunoco LP (SUN) announced that one of its wholly owned subsidiaries acquired a wholesale motor fuel distribution business serving the Northeastern United States from Alta East, Inc. for approximately US$57 million plus the value of inventory on hand at closing.

The business distributes approximately 55 million gallons a year of branded and unbranded gasolines, including Sunoco-branded fuels. As part of the transaction, SUN’s subsidiary also acquired a total of 32 fee and leased properties, including 30 properties which are currently operated by third party dealers or commission agents and two non-operating surplus locations. The transaction also included supply contracts with the dealer-owned and operated sites.