Susser Holdings completes acquisition of 25 convenience stores

Wed. September 02, 2009; Posted: 09:38 AM

Sep 02, 2009 (Datamonitor via COMTEX) -- SUSS | Quote | Chart | News | PowerRating -- Susser Holdings, a convenience store operator, has completed its previously disclosed acquisition of 25 convenience stores located in Texas and Louisiana.

Susser acquired the stores from Jack in the Box, a fast-food hamburger chain, and each location is co-branded with a Jack in the Box restaurant, all of which are being retained by Jack in the Box.

Susser said that the acquisition includes leaseholds for 24 stores and the real estate underlying one property; 23 of the acquired stores are located across Texas, and two are in Louisiana.

Of the 25 stores, it is anticipated that four to seven of the Texas stores will be operated by Susser's retail segment and will be rebranded to Susser's proprietary Stripes brand. It is also anticipated that the remaining 18 to 21 stores will be operated by independent dealers under long-term sublease and fuel supply agreements with Susser's wholesale fuel division; 16 of the 21 stores have already been converted to the dealer operation, including the one fee property.

Sam Susser, president and CEO of Susser Holdings, said: "This transaction underscores the strategic importance of having a strong wholesale fuel business along with the retail platform."

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