Sunoco LP Acquires E.T. Storey's Retail Fuel Business

TL;DR

Sunoco buying Buddy Storey's fuel biz, adding 100 customers & 140M gallons.

AI Summary

Sunoco LP announced on June 17, 2024, that it has entered into a definitive agreement to acquire the retail fuel distribution business of E.T. "Buddy" Storey, Inc. The transaction is expected to close in the third quarter of 2024 and will add approximately 100 dealer customers and 140 million gallons of annual fuel volume to Sunoco's operations.

Why It Matters

This acquisition expands Sunoco's market presence and fuel volume, potentially leading to increased revenue and operational synergies.

Risk Assessment

Risk Level: low — The filing is a routine acquisition announcement with no immediate negative financial implications disclosed.

Key Numbers

• 100 — Dealer Customers (Acquired from E.T. Storey, Inc.)
• 140 million — Gallons (Annual fuel volume to be added)

Key Players & Entities

• Sunoco LP (company) — Acquiring company
• E.T. "Buddy" Storey, Inc. (company) — Target company
• 100 (dollar_amount) — Number of dealer customers to be added
• 140 million (dollar_amount) — Annual fuel volume in gallons to be added
• Q3 2024 (date) — Expected closing quarter of the acquisition

FAQ

From the Filing

0001193125-24-162022.txt : 20240617 0001193125-24-162022.hdr.sgml : 20240617 20240617071954 ACCESSION NUMBER: 0001193125-24-162022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240617 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240617 DATE AS OF CHANGE: 20240617 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Sunoco LP CENTRAL INDEX KEY: 0001552275 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 300740483 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35653 FILM NUMBER: 241046947 BUSINESS ADDRESS: STREET 1: 8111 WESTCHESTER DR., SUITE 400 CITY: DALLAS STATE: TX ZIP: 75225 BUSINESS PHONE: (832) 234-3600 MAIL ADDRESS: STREET 1: 8111 WESTCHESTER DR., SUITE 400 CITY: DALLAS STATE: TX ZIP: 75225 FORMER COMPANY: FORMER CONFORMED NAME: Susser Petroleum Partners LP DATE OF NAME CHANGE: 20120614 8-K 1 d853344d8k.htm 8-K 8-K false 0001552275 0001552275 2024-06-17 2024-06-17     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 June 17, 2024 Date of Report (Date of earliest event reported)     SUNOCO LP (Exact name of registrant as specified in its charter)       Delaware   001-35653   30-0740483 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.) 8111 Westchester Drive , Suite 400 Dallas , TX 75225 (Address of principal executive offices, including zip code) (214) 981-0700 (Registrant’s telephone number, including area code)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Units Representing Limited Partner Interests   SUN   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 7.01 Regulation FD Disclosure. On June 17, 2024, Sunoco LP (the “Partnership” or “Sunoco”) issued a press release announcing its participation in J.P. Morgan’s 2024 Energy, Power, and Renewables Conference (the “Conference”). A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated in this Item 7.01 by reference. In connection with the Conference, the Partnership will reference a slide presentation which is available on the Partnership’s website at www.sunocolp.com in the Investor Relations section under Webcasts & Presentations. The informati