Susser Holdings Sells Three C-Stores to Susser Petroleum Partners
Sale/leaseback transactions worth $15.2 million
HOUSTON & CORPUS CHRISTI, Texas -- Susser Holdings Corp. and Susser Petroleum Partners LP have announced that three new Stripes convenience stores have opened in Texas during March. The companies completed sale/leaseback transactions worth $15.2 million for these three stores on Thursday.
These latest Stripes store sales by Susser Holdings to Susser Petroleum Partners bring the total to 14 since the initial public offering (IPO) of units in the partnership in September 2012. Included in this current group is a larger-format highway store with a truck diesel facility, and another store with a tunnel car wash and lube center.
Susser Holdings is a third-generation, family-led business based in Corpus Christi, Texas, that operates more than 555 c-stores in Texas, New Mexico and Oklahoma under the Stripes banner. Restaurant service is available in more than 350 of its stores, primarily under the proprietary Laredo Taco Co. brand. Susser Holdings also is majority owner and owns the general partner of Houston-based Susser Petroleum Partners, a publicly traded partnership formed by Susser Holdings to engage in the primarily fee-based wholesale distribution of motor fuels to Susser Holdings and third parties. Susser Petroleum Partners distributes more than1.4 billion gallons of motor fuel annually from major oil companies and independent refiners to Susser Holdings' Stripes c-stores, independently operated consignment locations, c-stores and retail fuel outlets operated by independent operators and other commercial customers in Texas, New Mexico, Oklahoma and Louisiana.