Sunoco LP is putting 42 convenience stores in Tennessee and Georgia on the market, according to a new filing with the U.S. Securities and Exchange Commission (SEC).
This sale is in addition to Sunoco’s sale of more than 1,000 c-stores to 7-Eleven Inc. and in addition to putting more than 200 sites up for sale separately.
The sales are part of “a transformative first step in a decision to divest convenience stores,” Sunoco LP President and CEO Bob Owens said during the company's first-quarter 2017 earnings call on May 4. “We anticipate that Sunoco will have substantially exited the retail convenience-store space in the continental United States by the end of 2017.”
Sunoco is making a strategic shift away from company-operated c-stores to focus on its fuel supply business.
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