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CORPUS CHRISTI, Texas -- Susser Holdings Corp. agreed to acquire 25 convenience stores located in Texas and Louisiana, which includes leaseholds for 24 stores and the real estate underlying one property, the company stated.
"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," Sam L. Susser, Susser Holdings president and chief executive officer, said in a statement.
As reported yesterday in a CSNews Online newsflash, Susser's wholesale fuel business currently supplies fuel to 11 of the 25 stores. Of the 25 stores, 23 are located in Texas and two are located in Louisiana. The company expects to sublet the majority of the locations to independent operators through its wholesale segment, according to the company.
The transaction, which will be funded by cash, is subject to customary closing conditions, and Susser expects the deal to be completed by the end of this month. Terms of the acquisition are confidential, and a seller was not identified by Susser.
Corpus Christi, Texas-based Susser Holdings is a third-generation family led business operating more than 515 convenience stores in Texas, New Mexico and Oklahoma under the Stripes and Town & Country banners. The company also supplies branded motor fuel to approximately 370 independent dealers through its wholesale fuel division.
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