RETAIL MARKETING SEGMENT
Energy Transfer Partners' retail marketing and wholesale fuel distribution activities are conducted through Sunoco, Inc., purchased in 2012, and through Stripes LLC and Sunoco LP
(NYSE:SUN), acquired in 2014 through the acquisition of Susser Holdings Corporation.
In March 2016, ETP contributed to Sunoco LP its remaining 68.42% interest in Sunoco, LLC and 100% interest in the legacy Sunoco, Inc. retail business for $2.23 billion. Sunoco LP paid $2.20 billion in cash, including a working capital adjustment, and issued 5.7 million Sunoco LP common units to Retail Holdings, a wholly-owned subsidiary of the Partnership. The transaction was effective January 1, 2016. In connection with this transaction, the Partnership deconsolidated the legacy Sunoco, Inc. retail business, and our remaining investment in Sunoco LP is accounted for under the equity method.
Our retail marketing segment currently owns 43.5 million Sunoco LP common units, which we account for under the equity method. Sunoco LP
(NYSE:SUN) is a master limited partnership that operates more than 850 convenience stores and retail fuel sites and distributes motor fuel to convenience stores, independent dealers, commercial customers and distributors located in 30 states at approximately 6,800 sites, both directly as well as through its 31.58% interest in Sunoco, LLC. Sunoco LP’s general partner is owned by ETE. For more information on SUN, please go to its website at www.sunocolp.com.