Sunoco LP (SUN) completed the roughly-$1.9 billion acquisition of Susser Holdings Corp. (SHC) from ETP Holdco Corp. and Heritage Holdings Inc., Sunoco and parent company Energy Transfer Partners (ETP) said July 31. ETP Holdco and Heritage are subsidiaries of ETP.
SUN paid $966.9 million in cash and issued ETP's subsidiaries about 21.98 million units valued at about $966.9 million. Also, 11 million SUN units owned by SHC will be exchanged for another 11 million new SUN units to a subsidiary of ETP.
SHC's assets are mainly about 680 Stripes convenience stores selling motor fuel and merchandise in Texas, Oklahoma and New Mexico.
SUN will acquire new organic growth opportunities and third-party acquisition opportunities.
SHC will be owned by SUN's indirect wholly owned subsidiary, Susser Petroleum Property Co. LLC.
Recommended Reading
Money Talks: UMB Bank on Impacts of Upstream Consolidation
2025-04-21 - Guardrails in place allow banks to support energy businesses through all economic cycles, says Zachary Leard, vice president for the energy group at UMB Bank.
Money Talks: Texas Capital Bank on How to Deploy Capital Amid Shrinkage
2025-04-22 - In an uncertain macro environment, caution is necessary in deploying capital, says Marc Graham, managing director and head of energy at Texas Capital Bank.
More Players, More Dry Powder—So Where are the Deals?
2025-03-24 - Bankers are back and ready to invest in the oil and gas space, but assets for sale remain few and far between, lenders say.
PE Firm Andros Capital Partners Closes $1 Billion Energy Fund
2025-04-07 - Andros Capital Partners maintains a flexible investment mandate, allowing the firm to invest opportunistically across the capital structure in both public and private equity or debt securities.
Q&A: Petrie Partners Co-Founder Offers the Private Equity Perspective
2025-02-19 - Applying veteran wisdom to the oil and gas finance landscape, trends for 2025 begin to emerge.