December 29, 2014 [OPIS] - Aloha Petroleum, the largest independent gasoline marketer and one of the largest convenience-store operators in Hawaii, will retain its brand name even though it was bought by Sunoco LP, an Aloha Petroleum spokeswoman told OPIS.
This is unlike the brand strategy adopted by Sunoco for Susser Petroleum. Sunoco acquired Susser Petroleum in August, and shortly after, Susser was renamed Sunoco.
Aloha was originally purchased by Susser Petroleum Partners in September.
Besides retail stores and fuel marketing businesses, Honolulu-based gasoline marketer Aloha Petroleum also has an extensive wholesale fuel distribution network and six fuel storage terminals on the islands.
Aloha currently markets through approximately 100 Shell, Aloha and Mahalo branded fuel stations throughout the state, about half of which are company-operated. The Aloha acquisition extends Sunoco LP’s business into one of the fastest-growing markets in the U.S. and expands its capabilities into refined products terminals.
The total purchase price was approximately $240 million, subject to a post-closing earn-out, certain closing adjustments and before transaction costs and expenses.
Sunoco LP is a master limited partnership that primarily distributes motor fuel to convenience stores, independent dealers, commercial customers and distributors. Sunoco also operates more than 100 convenience stores and retail fuel sites.
Sunoco’s general partner is a wholly owned subsidiary of ETP. While primarily engaged in natural gas, natural gas liquids, crude oil and refined products transportation, ETP also operates a retail business with a network of more than 5,500 company or independently operated retail fuel outlets and convenience stores through its wholly owned subsidiaries, Sunoco Inc. and Stripes LLC.
