1. News
June 22, 2016

Sunoco completes purchase of retail convenience business from Valentine Stores

A Sunoco subsidiary has completed a $76.4m acquisition of a retail convenience store business in New York, US, from Valentine Stores.

A Sunoco subsidiary has completed a $76.4m acquisition of a retail convenience store business in New York, US, from Valentine Stores.

The company financed the purchase using funds under its revolving credit facility.

This purchase includes a standalone Tim Hortons restaurant and 18 company-operated stores, which annually sell approximately 20 million gallons of fuel.

"This purchase enhances Sunoco’s existing convenience store business in New York."

The deal also includes the purchase of 19 fee properties, one leased property, and three raw tracts of land for future store development.

This purchase enhances Sunoco’s existing convenience store business in New York.

The deal is expected to be immediately accumulative to Sunoco with regard to distributable cash flow.

Sunoco is a master limited partnership operating approximately 1,300 retail fuel locations and convenience stores under the APlus, Stripes, Aloha Island Mart and Tigermarket brands.

It distributes fuel to convenience stores, independent dealers, commercial customers and distributors in 30 states.