Susser Holdings Corp. Corpus Christi, Texas, has agreed to acquire 25 convenience stores located in Texas and Louisiana.
Susser Holdings Corp. is a third-generation family led business that operates more than 515 convenience stores in Texas, New Mexico and Oklahoma under the Stripes and Town & Country banners, and also supplies branded motor fuel to about 370 independent dealers through its wholesale fuel division.
Susser’s new acquisition includes leaseholds for 24 stores and the real estate underlying one property. Twenty-three of the stores are located across Texas and two are located in Louisiana.
Susser’s wholesale fuel business currently supplies fuel to 11 of the 25 stores. The company expects to sublet the majority of the locations to independent operators through its wholesale segment.
“This acquisition allows us to continue expansion of our wholesale dealer network across Texas and into Louisiana. The sites have all been built within the last seven years, and we are pleased to add them to our network. We expect this acquisition to be accretive during the first year,” said Sam Susser, president and CEO of the company.
The transaction is subject to customary closing conditions. The close date is expected to be at the end of August, and Susser will fund the acquisition with cash.
For more on Susser Holdings, be sure to read the upcoming cover story in the August issue of Convenience Store Decisions.