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SAN ANTONIO -- Valero has signed the largest single branded wholesale agreement in its history with an 11-year contract to supply fuel and branding programs to more than 300 of Susser Petroleum's locations in Texas and Oklahoma.
The agreement makes Valero the largest rack fuel marketer in Texas, with a total of 1,900 branded wholesale and company-owned locations, along with its unbranded sales across the state. In addition to supplying retail sites with Valero fuel, the company will be branding selected sites from Susser's 352 wholesale dealers.
"We are very excited about partnering with Susser because it is a very well-known and well-respected company, especially in Texas where it is the state's largest independent convenience-store operator," Ken Applegate, Valero's vice president of wholesale marketing said in a written release. "Susser has a great network of high-quality sites and we're proud to put the Valero name on these locations.
"This is also a great partnership because we share many of the same values. Both companies have strong community service records, great employees, competitive strategies, and solid operations, so we have all the makings of good business partners," he added.
SSP Partners, the retail subsidiary of Susser Holdings LLC founded in 1938, currently sells fuel under the CITGO brand. With this signed agreement, most of Susser's 324 retail locations will adopt the Valero brand. The rebranding, which will take a year to complete, is slated to begin in September.
With this agreement, Valero will hold approximately 3,500 branded wholesale locations and a total of about 5,500 sites throughout the U.S., Canada and Aruba under the banners Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. The company operates 18 refineries throughout the United States, Canada and the Caribbean with a combined capacity of nearly 3.3 million barrels per day. Annual revenues for the company total more than $80 billion.