Sunoco LP Announces Fuel Distribution Acquisitions and Strategic
Divestiture of its Ethanol Facility
DALLAS, Jan. 18, 2019 /PRNewswire/ --Sunoco LP (NYSE: SUN) ("Sunoco") announced the completion of the
acquisition of the wholesale fuel distribution business from Schmitt Sales, Inc. and the execution of a denitive
agreement to acquire certain convenience store locations from Speedway LLC. Sunoco will convert the acquired
convenience store locations to wholesale distribution sites.
Combined, these wholesale fuels businesses distribute approximately 180 million gallons of fuel annually
across a network of dealer and commission agent-operated locations in the Upstate New York, Ohio,
Pennsylvania and West Virginia markets.
Total consideration for both acquisitions is approximately $50 million plus working capital adjustments.
These acquisitions are consistent with Sunoco's strategy of utilizing its scale to grow the core fuel distribution
business. Sunoco will fund the transactionswith cash on hand and amounts available under its revolving credit
facility, while continuing to maintain its targeted leverage ratio. These transactions are expected to be
accretiveto Sunocowith respect to distributable cash ow in the rst year.
Additionally, Sunoco announced the execution of a denitive asset purchase agreement with Attis Industries
Inc. (NASDAQ: ATIS) ("Attis") for the sale of Sunoco's ethanol plant, including the grain malting operation, in
Fulton, New York. As part of the transaction, Sunoco will enter into a 10-year ethanol otake agreement with
Attis.
Total consideration for the divestiture is $20 million in cash. Sunoco expects to use the proceeds to repay
indebtedness as it continues to maintain its targeted leverage ratio. The transaction is subject to regulatory
clearances and customary closing conditions and is expected to close in the rst quarter of 2019.
About Sunoco LP
Sunoco LP (NYSE: SUN) is a master limited partnership thatdistributes motor fuel to approximately 10,000
convenience stores, independent dealers, commercial customers and distributors located in more than 30
states. Sunoco's general partner is owned by Energy Transfer Operating, L.P., a subsidiary of Energy Transfer LP
(NYSE: ET).
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Cautionary Statement Relevant to Forward-Looking Information
This press release may include certain statements concerning expectations for the future that are forward-
looking statements as dened by federal law. Such forward-looking statements are subject to a variety of
known and unknown risks, uncertainties, and other factors that are dicult to predict and many of which are
beyond management's control. An extensive list of factors that can aect future results are discussed in
Sunoco's Annual Report on Form 10-K and other documents led from time to time with the Securities and
Exchange Commission. Sunoco undertakes no obligation to update or revise any forward-looking statement to
reect new information or events.
The information contained in this press release is available on our website at www.SunocoLP.com
Contacts
Investors:
Scott Grischow
Senior Director – Investor Relations and Treasury
(214) 840-5660, scott.grischow@sunoco.com
Derek Rabe, CFA
Manager – Investor Relations, Growth and Strategy
(214) 840-5553, derek.rabe@sunoco.com
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SOURCE Sunoco LP
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