<SEC-DOCUMENT>0001193125-12-320985.txt : 20120828
<SEC-HEADER>0001193125-12-320985.hdr.sgml : 20120828
<ACCEPTANCE-DATETIME>20120730063136
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-12-320985
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20120730

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SUBURBAN PROPANE PARTNERS LP
		CENTRAL INDEX KEY:			0001005210
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-MISCELLANEOUS RETAIL [5900]
		IRS NUMBER:				223410353
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 206
		STREET 2:		240 ROUTE 10 WEST
		CITY:			WIPPANY
		STATE:			NJ
		ZIP:			07981
		BUSINESS PHONE:		9738875300

	MAIL ADDRESS:	
		STREET 1:		ONE SUBURBAN PLZ
		STREET 2:		240 RTE 10 WEST
		CITY:			WHIPPANY
		STATE:			NJ
		ZIP:			07981
</SEC-HEADER>
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<TYPE>CORRESP
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<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="middle"><FONT STYLE="font-family:Times New Roman" SIZE="1">Proskauer Rose LLP&nbsp;&nbsp;&nbsp;&nbsp; Eleven Times Square New York, NY 10036-8299</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:65%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Charles E. Dropkin </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:65%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Member of the Firm </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:65%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">d 212.969.3535 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:65%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">f 212.969.2900 </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:65%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">cdropkin@proskauer.com </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:65%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">www.proskauer.com </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">July&nbsp;30, 2012 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>VIA ELECTRONIC TRANSMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>AND OVERNIGHT COURIER </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Mara L. Ransom </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Assistant Director </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">United States Securities and Exchange Commission </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Division of Corporation Finance </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">100 F Street,
N.E. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Washington, D.C. 20549 </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Re:</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment No.&nbsp;3 to Registration Statement on Form S-1 </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Filed: July&nbsp;19, 2012 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">File No.: 333-181314 </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dear Ms.&nbsp;Ransom: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Reference is made to the comments of the staff (the &#147;Staff&#148;) of the Securities and Exchange Commission (the
&#147;Commission&#148;) with respect to Amendment No.&nbsp;3 to the Registration Statement on Form S-1 (File No.&nbsp;333-181314) (&#147;Amendment No.&nbsp;3&#148;) of Suburban Propane Partners, L.P. (&#147;Suburban&#148; or the
&#147;Company&#148;), in your letter dated July&nbsp;27, 2012 (the &#147;Comment Letter&#148;). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are writing to respond, on
behalf of the Company, to the comments contained in the Comment Letter and to indicate the changes that are being made in Amendment No.&nbsp;4 to the Form S-1 (&#147;Amendment No.&nbsp;4&#148;) that will be filed with the Commission on today&#146;s
date. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For your convenience, your comments are set forth in this letter, followed by the Company&#146;s responses. References
in the responses below in this letter to &#147;we&#148;, &#147;our&#148;, &#147;us&#148; or similar phrases refer to the Company. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Prospectus Summary, page 2 </U></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Recent
Developments, page 5 </U></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:2%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I><U>Third Quarter Financial Results, page 5 </U></I></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>We note that you have presented non-GAAP financial measures for your preliminary financial data. Please provide the disclosure required by Item&nbsp;10(e) of
Regulation S-K, including without limitation a reconciliation of the differences between the non-GAAP</I> </FONT></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">Beijing | Boca Raton | Boston | Chicago | Hong Kong | London | Los Angeles | New Orleans | New York | Newark | Paris | S&atilde;o Paulo |
Washington, DC </FONT></P>

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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Mara L. Ransom</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">United States Securities and</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exchange Commission</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">July 30, 2012</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="right"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Page 2 of 2</FONT></P></TD></TR>
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<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>financial measures with the most directly comparable GAAP financial measures. Please also revise to comply with Regulation G.</I> </FONT></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment No.&nbsp;4 includes additional disclosure as required by Item&nbsp;10(e) of Regulation S-K on page 5 to address the
Staff&#146;s comment. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Please confirm to us your understanding that notwithstanding Rule 3-12 of Regulation S-X, you must include in the registration statement the financial statements for
the most recently completed fiscal quarter if they are issued before the effective date of the registration statement. See ASC 855-10-S99-2 for guidance on when financial statements are &#147;issued.&#148;</I> </FONT></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company hereby confirms its understanding that notwithstanding Rule 3-12 of Regulation S-X, it must include in the registration
statement the financial statements for the most recently completed fiscal quarter if they are issued before the effective date of the registration statement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">* * * * * * </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">This is to acknowledge that: </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">should the Commission or the staff, acting pursuant to delegated authority, declare the filing effective, it does not foreclose the Commission from
taking any action with respect to the filing; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the action of the Commission or the staff, acting pursuant to delegated authority, in declaring the filing effective, does not relieve the company from
its full responsibility for the adequacy and accuracy of the disclosure in the filing; and </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">the company may not assert staff comments and the declaration of effectiveness as a defense in any proceeding initiated by the Commission or any person
under the federal securities laws of the United States. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We would appreciate your prompt review of these
materials and your prompt notification to us if you have further comments or questions. Please contact me should you have any questions or additional comments. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Very truly yours, </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">/s/ Charles E. Dropkin </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Charles E. Dropkin </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Enclosures </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">cc:</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Michael J. Dunn, Jr. (Suburban Propane Partners, L.P.) </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Michael A. Stivala (Suburban Propane Partners, L.P.) </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Paul Abel (Suburban Propane
Partners, L.P.) </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">James Gerkis (Proskauer Rose LLP) </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Gillian A. Hobson (Vinson&nbsp;&amp; Elkins, L.L.P. </FONT></P>
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