Sunoco LP to Purchase Rened Product Terminals from NuStar
Energy L.P. and Cato, Incorporated
DALLAS, Aug. 2, 2021 /PRNewswire/ -- Sunoco LP (NYSE: SUN) ("SUN" or the "Partnership") announced the
execution of denitive agreements to acquire eight rened product terminals from NuStar Energy L.P. ("NuStar")
and one rened product terminal from Cato, Incorporated ("Cato") for a combined purchase price of $255.5
million.
These acquisitions will result in a signicant expansion of SUN's midstream business, enhance its platform for fuel
distribution expansion and allow SUN to remain within its long-term leverage and coverage target levels. SUN will
continue to employ a disciplined approach toward future acquisitions.
NuStar Acquisition
The NuStar acquisition includes seven rened product terminals on the East Coast and one in the Midwest in the
following locations: Andrews Air Force Base, MD; Baltimore, MD; Blue Island, IL; Jacksonville, FL; Linden, NJ;
Paulsboro, NJ; Piney Point, MD; and Virginia Beach, VA. The terminals have an aggregate storage capacity of
approximately 14.8 million barrels, handle primarily rened products and are accessed via pipeline, truck, rail, and
marine vessels.
Cato Acquisition
The Cato terminal is a gasoline and distillate terminal located in Salisbury, MD with approximately 140 thousand
barrels of storage and is accessed via truck and marine vessels. As part of the transaction, Cato has agreed to a
ve-year extension of its existing SUN fuel distribution contract.
Both acquisitions are expected to close in the fourth quarter of 2021, subject to the satisfaction of customary
closing conditions. The Partnership expects the acquisitions to be immediately accretive to unitholders.
Sunoco LP (NYSE: SUN)is a master limited partnership with core operations that include the distribution of motor
fuel to approximately 10,000 convenience stores, independent dealers, commercial customers and distributors
located in more than 30 states as well as rened product transportation and terminalling assets. SUN's general
partner is owned by Energy Transfer LP (NYSE: ET).
Forward-Looking Statements
This news 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 the Partnership's
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Annual Report on Form 10-K and other documents led from time to time with the Securities and Exchange
Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or
may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic and the recent
decline in commodity prices, and we cannot predict the length and ultimate impact of those risks. The
Partnership 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, Vice President – Investor Relations and Treasury
(214) 840-5660, scott.grischow@sunoco.com
James Heckler, Director – Investor Relations and Corporate Finance
(214) 840-5415, james.heckler@sunoco.com
Derek Rabe, CFA, Manager – Investor Relations, Strategy and Growth
(214) 840-5553, derek.rabe@sunoco.com
Media:
Alexis Daniel, Manager – Communications
(214) 981-0739, alexis.daniel@sunoco.com
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SOURCE Sunoco LP
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