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Sunoco closes acquisition of Texas fuel distribution business

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Sunoco closes acquisition of Texas fuel distribution business

Sunoco LP completed its acquisition of petroleum marketer Brenco Marketing Corp.'s fuel distribution business for about $24 million, as part of the partnership's strategy to grow its core fuel distribution business.

The acquired business moves about 95 million gallons of fuel per year across roughly 160 dealer and commission agent-operated locations and 100 commercial accounts in central and east Texas, according to an Oct. 16 news release. Sunoco funded the acquisition with cash on hand and borrowings under its revolving credit facility.

Sunoco distributes motor fuel to approximately 9,900 retail stores, commission agent locations, independent dealers, commercial customers and distributors in more than 30 states. Sunoco's general partner is owned by Energy Transfer Equity LP.