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Sunoco Buys 193 Speedway and SuperAmerica Outlets for $140M

PHILADELPHIA-With the purchase of all Speedway and SuperAmerica convenience

By Marita Thomas | Updated on February 09, 2003

PHILADELPHIA-Locally based Sunoco has bought 193 gasoline and convenience store outlets from Marathon Ashland Petroleum’s retail subsidiary, Speedway SuperAmerica, for $140 million, or an average of $725,388 per unit, plus store inventory. The acquisition includes all Speedway and SuperAmerica units in Florida, North Carolina, South Carolina and Georgia and represents Sunoco’s reentry into the Southeast.

The acquired units join Sunoco’s existing 4,300 retail sites nationwide and will be re-branded to Sunoco gasoline and APlus convenience stores. A majority of them, 115, are located in Florida; 62 are in South Carolina; 13 in North Carolina, and three in Georgia.

The overwhelming majority of units are owned in fee, with 54 subject to long-term lease agreements.

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