(RTTNews) - Sunoco LP (SUN) on Thursday announced that it has agreed to acquire fuel distributor Offen Petroleum in an all-cash transaction valued at approximately $600 million, expanding its fuel distribution network across the Midwest, Mountain West and Southwest regions of the United States.
Offen distributes about 2.5 billion gallons of fuel annually to roughly 7,000 customers and more than 800 retail stations. Sunoco said the acquisition will be immediately accretive and is expected to increase cash flow, supporting future distribution growth, reinvestment and additional acquisition opportunities.
The expanded geographic footprint is also expected to strengthen the partnership's existing fuel distribution business. The transaction is subject to regulatory approvals and is expected to close in the fourth quarter of 2026.
SUN is currently trading after hours at $73.70 up $0.12 or 0.16 percent on the New York Stock Exchange.
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