Superior Buys Sunoco Oil Unit For $82.5M

Law360, New York (September 2, 2009, 1:13 PM EDT) -- Canada's Superior Plus Corp. said Wednesday that it had penned a deal to buy Sunoco Inc.'s retail heating oil and propane distribution business for $82.5 million in cash, a move the Canadian company said would expand its fuel distribution business in the U.S. as part of its growth strategy.

The Sunoco unit, Sunoco Retail Heat, has a distribution network that includes the operation of two pipeline-supplied fuel terminals and 22 retail bulk plants providing up to 20 million gallons of storage capacity in its core markets,...
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