Susser Acquires Wholesale Fuel Supply Contracts
Include 121 dealer locations, fuel supply rights to 24 commercial accounts
CORPUS CHRISTI, Texas -- Susser Holdings Corp. has announced that its wholesale division, Susser Petroleum Co. LLC, has acquired the assets of Dallas/Fort Worth-based Community Fuels of Texas LP. The acquisition includes the fuel supply contacts to 121 dealer locations and fuel supply rights to 24 commercial accounts.
"We are pleased to increase our wholesale presence in the Dallas/Fort Worth and East Texas markets, expand our relationships with Shell, Valero, Chevron, Texaco and ConocoPhillips and to welcome these new customers and employees to our business. This base of business provides us a platform to increase growth in the largest metropolitan area in the state of Texas," said Rocky B. Dewbre, president and chief operating officer of Susser Petroleum.
Phil Tomczyk, president and chief executive officer of Community Fuels, said, "We have many great customers and know that they will be in good hands with the Susser organization."
The transaction was funded with cash and is expected to be immediately accretive to earnings. The financial terms of the transaction were not disclosed and the transaction value was not material.
Corpus Christi, Texas-based Susser Holdings is a third-generation, family-led business with approximately 1,100 company-operated or contracted locations. The company operates 535 convenience stores in Texas, New Mexico and Oklahoma under the Stripes banner. Restaurant service is available in more than 320 of its stores, primarily under the proprietary Laredo Taco Co. brand. It also currently supplies branded motor fuel to 560 independent dealers through its wholesale fuel division.