Launches new Website and returns to the New York Stock Exchange.
Susser Petroleum Partners LP (The Partnership) has announced the changing of its name to Sunoco LP, as well as the changing of its ticker symbol for its common units to “SUN.”
Sunoco has returns to the New York Stock Exchange (NYSE) as Sunoco LP.
The common units are now trading at market open under the SUN ticker symbol on the New York Stock Exchange. The Partnership has also launched its new Website at www.sunocolp.com. No action is required by unit-holders as a result of these changes.
“We are proud to reintroduce the SUN ticker symbol, which traded on the NYSE for almost 87 years until the sale of Sunoco Inc. in 2012 to our parent company, Energy Transfer Partners L.P.,” said Bob Owens, Sunoco LP CEO. “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.”
The partnership successfully completed the first dropdown of Mid-Atlantic Convenience Stores LLC from ETP to SUN early this month and announced the acquisition of Aloha Petroleum Ltd., one of the largest gasoline marketers and convenience store operators in Hawaii, with an extensive wholesale fuel distribution network and six fuel storage terminals on the islands.
“We plan to continue to grow the new Sunoco LP through additional asset dropdowns 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.
Expected future dropdown opportunities from Energy Transfer Partners include the fuel marketing, distribution and retail assets of Sunoco Inc. and Susser Holdings’ Stripes branded convenience stores, with more than 5,500 sites between them.