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CORPUS CHRISTI, Texas -- Susser Holdings Corp. (SUSS) and Susser Petroleum Partners LP (SUSP) today closed on their acquisition of the convenience store assets and fuel distribution contracts of Sac-N-Pac Stores Inc. and 3W Warren Fuels Ltd.
The acquisition provides the two companies with 47 convenience stores in the rapidly growing South Central Texas corridor between San Antonio and Austin, as well as the supply of approximately 65 million gallons of motor fuel annually to these locations.
SUSS and SUSP paid $88 million plus inventories to acquire Sac-N-Pac and 3W. The acquisition also includes one standalone branded quick-service restaurant (QSR), five raw tracts of land for future store development and the right to acquire two additional land parcels.
According to SUSS, it will initially operate all 47 acquired stores under the Sac-N-Pac brand. However, the company may elect to convert some of these sites to its Stripes brand and may add its Laredo Taco Co. QSR brand to certain locations as well.
As of today, Corpus Christi, Texas-based Susser Holdings Corp. operates 627 convenience stores in Texas, New Mexico and Oklahoma, with 580 under the Stripes brand and 47 carrying the Sac-N-Pac name.
SUSS is a majority owner and owns the general partner of Susser Petroleum Partners LP, which distributes approximately 1.6 billion gallons of motor fuel annually to Stripes stores, independent consignment locations, convenience stores and retail fuel outlets operated by independent operators and other commercial customers in Texas, New Mexico, Oklahoma and Louisiana.