Dive Brief:
- Sunoco Retail, an affiliate of Sunoco LP, has purchased 48 retail and fuel sites from East Coast company Capitol Petroleum Group, according to a Monday press release from Petroleum Capital and Real Estate, or PetroCapRE, which advised the sale.
- The purchased locations were Shell, Exxon, Mobil and Citgo-branded convenience and gas locations in the greater New York City metro region and operated under a mix of commission operator, dealer tank wagon and supply-only dealer setups.
- This is the third Sunoco acquisition announced so far in 2026, adding a total of 140 sites to its footprint.
Dive Insight:
Sunoco sold many of its retail sites to 7-Eleven in early 2024, prompting questions of whether or not the company might get out of the business of owning retail sites. But in mid-2025, the energy company bought Parkland Corp. for $9.1 billion in 2025. Since then, it’s doubled down on building its retail footprint.
Sunoco’s acquisition of 36 Pops Marts locations along with the retailer’s wholesale fuel distribution business was announced in January. Then in February, it bought the convenience retail division of Jernigan Oil, which encompassed 56 Duck Thru c-stores. Now it’s adding an additional 48 sites.
Capital Petroleum Group will retain 35 locations in the New York City area and more in the Washington, D.C., metro area, according to information from PetroCapRE. The retailer, which was founded in 1997, is capitalizing on the industry trend of larger or growth-hungry retailers looking to snap up properties via M&A.
“This was the perfect time for CPG to sell these strategic retail sites in what is still a very favorable marketplace for C&G operators interested in selling assets and/or exiting the industry,” said John Flippen, managing director of PetroCapRE.
