Sunoco has entered into a definitive agreement to acquire Offen Petroleum, a portfolio company of Court Square, in an all-cash transaction valued at $600 million. Offen operates a significant fuel distribution network, delivering approximately 2.5 billion gallons annually to around 7,000 customers and over 800 retail stations.

The acquisition is expected to enhance Sunoco’s existing fuel distribution operations by expanding its geographic footprint across the Midwest, Mountain West, and Southwest regions. This move is anticipated to create further opportunities for organic growth and future bolt-on acquisitions.

Court Square initially acquired Offen in 2019 and has since supported the company in completing more than eight add-on acquisitions. The transaction is subject to regulatory approval and is projected to close in Q4 2026.