Susser Petroleum Partners Becomes Sunoco LP
HOUSTON — After a two-year hiatus, Sunoco is back trading on the New York Stock Exchange under the symbol "SUN." This time, however, the company is known as Sunoco LP.
Sunoco LP, formerly known as Susser Petroleum Partners LP, currently operates Mid-Atlantic Convenience Stores LLC sites. It is also expected to close on the acquisition of Aloha Petroleum Ltd., one of the largest gasoline and convenience store operators in Hawaii, by the end of this year.
"We are proud to reintroduce the SUN ticker symbol, which traded on the New York Stock Exchange for almost 87 years until the sale of Sunoco Inc. in 2012 to our parent company, Energy Transfer Partners LP," said Bob Owens, CEO of Sunoco LP. "We believe that Sunoco's iconic brand, built through a long legacy of quality fuel, paired with Stripes' industry-leading convenience store model is a tremendous platform for us to grow in our existing markets and expand into new markets."
In the future, Houston-based Energy Transfer Partners is expected to drop down the Stripes LLC chain of c-stores formerly owned by Susser Holdings Corp. to Sunoco LP, as well as the fuel marketing, distribution and retail assets of Sunoco Inc., which combined have more than 5,500 c-store locations.
"We plan to continue to grow the new Sunoco LP through additional asset drop-downs from our parent, as well as through organic growth such as new builds in attractive, growing markets and with opportunistic acquisitions such as Aloha Petroleum, expected to close by the end of this year," Owens said.