Sunoco LP has completed the previously announced acquisition of Honolulu, Hawaii-based Aloha Petroleum Ltd.
Aloha Petroleum is the largest independent gasoline marketer and one of the largest convenience store operators in Hawaii, with 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.
Total purchase price was approximately $240 million, subject to a post-closing earn-out, certain closing adjustments and before transaction costs and expenses.