Sunoco buys Jernigan’s retail fuel division
Sunoco continues to expand its fuel network.
Sunoco Retail, an affiliate of Sunoco LP, recently acquired Jernigan Oil Company’s convenience retail division, which includes 56 Duck Thru Food Stores in North Carolina and Virginia, less than a month after Sunoco’s purchase of 36 Pops Mart Fuels stores in North Carolina, South Carolina, and Wisconsin.
Jernigan, headquartered in Ahoskie, North Carolina, plans to use the proceeds from the sale to reinvest in its other business units, which include propane distribution, commercial fuels, fuels transportation, and marina operations, reported the family-owned company founded in 1948. Terms of the transaction, which included a fuels transportation agreement, propane supply agreement, and post-closing lease of 21 of the Duck Thru stores, were not disclosed.
“[Our customers’] loyalty has been the foundation of everything we’ve built, and we are deeply grateful,” Michael Harrell, Jernigan president, said in a news release. “Most importantly, we want to thank our employees for their sacrifices, hard work, and dedication to Duck Thru Food Stores and Jernigan Oil Company. The strength and success of this company was built by our employees, and I am sincerely thankful for their commitment, pride, and the countless ways they made this journey possible.”
The deal comes close on the heels of Sunoco’s January acquisition of 36 Pops Mart locations, which pushed Sunoco’s c-store count over 300. Pops Mart CEO Don Draughon considered growing the company’s footprint before he was approached by Sunoco, according to a release. The company then sold its remaining 18 stores, including seven to Petroleum Marketing Group, reports indicate.
Additionally, Sunoco acquired Parkland Corporation last November in a $9.1 billion transaction that made it one of the largest fuel distributors in North America. The recent moves are part of the company’s multi-year growth plan to target “bolt-on acquisitions totaling at least $500 million annually,” according to Sunoco’s 2026 Guidance.
In 2024, Sunoco sold 204 locations, which included its Stripes c-stores and Laredo Taco restaurants, to 7-Eleven for $950 million.