This summary highlights information included or incorporated by reference in this prospectus. Because it is abbreviated, this summary does
not contain all of the information that you should consider before investing in the notes. You should read the entire prospectus and the documents incorporated by reference carefully before making an investment decision, including the information
presented under the headings Risk Factors and Forward-Looking Statements, and the consolidated historical and pro forma financial statements and the related notes thereto included in and incorporated by reference in this
As used in this prospectus, the Partnership, Sunoco, we, our,
us or similar terms refer to Sunoco LP (known prior to October 27, 2014 as Susser Petroleum Partners LP) and our consolidated subsidiaries, as applicable and appropriate. In this prospectus, (i) our General Partner
refers to Sunoco GP LLC, a Delaware limited liability company and the general partner of the Partnership; (ii) ETE refers to Energy Transfer Equity, L.P., a Delaware limited partnership that owns a 2.0% limited partner interest in us and
owns and controls our general partner and the general partner of ETP; (iii) ETP refers to Energy Transfer Partners, L.P., a Delaware limited partnership that owns a 38.9% limited partner interest in us; (iv)MACS refers
to Mid-Atlantic Convenience Stores, LLC, a Delaware limited liability company and our indirect wholly owned subsidiary, and MACS Retail LLC, a Virginia limited liability company and its wholly owned subsidiary; (v) Aloha refers to
Aloha Petroleum, Ltd., a Hawaii corporation and our indirect wholly owned subsidiary; (vi) Sunoco LLC refers to Sunoco, LLC, a Delaware limited liability company and our indirect wholly owned subsidiary; (vii) Sunoco Retail
refers to Sunoco Retail LLC, a Pennsylvania limited liability company and our indirect wholly owned subsidiary; (viii) Sunoco, Inc. refers to Sunoco, Inc., an indirect wholly owned subsidiary of ETP; (ix) ETP Retail refer to ETP Retail
Holdings, LLC, a wholly owned subsidiary of ETP; (x) Sunoco R&M refers to Sunoco, Inc. (R&M), an indirect wholly owned subsidiary of ETP; and (xi) Atlantic Refining refers to Atlantic Refining & Marketing Corp.,
an indirect wholly owned subsidiary of ETP.
We are a growth-oriented Delaware master limited partnership engaged in the retail sale of motor fuels and merchandise through our
company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. Additionally, through Sunoco LLC, we are the exclusive
wholesale supplier of the iconic Sunoco-branded motor fuel, supplying an extensive distribution network of 5,245 Sunoco-branded company and third-party operated locations throughout the East Coast, Midwest and Southeast regions of the United States
including approximately 195 company-operated Sunoco-branded Stripes locations in Texas.
We are managed by our General Partner. ETE, a
publicly traded master limited partnership, owns 100% of the membership interests in our General Partner, a 2.0% limited partner interest in us and all of our incentive distribution rights. ETP, another publicly traded master limited partnership
which is also owned by ETE, owns a 38.9% limited partner interest in us.
We believe we are one of the largest independent motor fuel
distributors by gallons in Texas and one of the largest distributors of Chevron, Exxon, and Valero branded motor fuel in the United States. In addition to distributing motor fuel, we also distribute other petroleum products such as propane and lube
oil, and we receive rental income from real estate that we lease or sublease. Sales of fuel from our wholesale segment to our retail segment are delivered at a cost plus profit margin.