Stripes Convenience Stores Sold

Published 04/30 2014 12:43PM

Updated 04/30 2014 12:52PM

The parent company of Stripes convenience stores, Corpus Christi-based Susser Holdings Corp., will be sold to Energy Transfer Partners, the relatively new parent company of Sunoco. The deal is reportedly worth $1.8 billion.

Susser operates more than 580 Stripes locations, including many in Abilene and the Big Country. It also owns a few convenience stores under other names for a total of more than 600 retail locations.

A company official with ETP was quoted by Bloomberg as saying the plan is to “geographically expand the overall Stripes brand.”

“The combination of Susser [Stripes convenience stores] and our Sunoco retail business creates a platform to build a best-in-class and unique business,” said Sunoco CEO Bob Owens in a written statement.

The deal with Dallas-based ETP and Susser Holdings Corp. is expected to close in the third quarter of this year. Susser’s related company, Houston-based Susser Petroleum Partners, will continue to be traded on the New York Stock Exchange.

Stripes bought out a name familiar to many in the Big Country, convenience store chain Town & Country, in 2007.

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