Sunoco completes acquisition of assets from Denny Oil
Sunoco announced that one of its wholly owned subsidiaries completed the acquisition of the retail convenience store assets and wholesale fuel business from Denny Oil for approximately $53M. This acquisition includes six company-operated locations and wholesale fuel supply contracts for a network of approximately 120 independent dealer-owned and dealer-operated locations and a commercial fuels business in the Eastern Texas and Louisiana markets. The business distributes approximately 90M gallons of retail and wholesale fuel annually. This acquisition strengthens, and in some cases establishes, Sunoco's existing convenience store and wholesale fuel distribution business in East Texas and Louisiana. This transaction was funded using amounts available under Sunoco's revolving credit facility and is expected to be immediately accretive to Sunoco with respect to distributable cash flow.