- Susser Petroleum Partners (SUSP) announces a series of strategic moves: It agrees to acquire Mid-Atlantic Convenience Stores from Energy Transfer Partners (ETP) for $768M, agrees to acquire Hawaii-based Aloha Petroleum, closes a new $1.25B revolving credit facility, and plans to change its name to Sunoco LP.
- In the first dropdown transaction between the two companies, ETP will transfer some convenience store assets within the Sunoco corporate family to SUSP, including ~110 company-operated retail stores and 210 dealer-operated and consignment sites.
- Aloha is the largest independent gasoline marketer and one of the largest convenience store operators in Hawaii, with ~100 fuel stations throughout the state, about half of which are company operated.
- The name change includes a new ticker symbol - SUN - to align the partnership's name with that of Sunoco.