CORPUS CHRISTI, Texas
,
June 5, 2013
/PRNewswire/ --
Susser Holdings Corporation
(NYSE: SUSS) announced today that it has recently opened two new Stripes® convenience stores, bringing the total number of new stores completed to eight since the beginning of the year.
A sale and leaseback transaction of these two new stores was completed at the end of May for a total cost of
$6.7 million
. This latest sale by
Susser Holdings
to
Susser Petroleum beplay88网棋牌 s LP
(NYSE: SUSP) brings the total number of new-build store "dropdowns" to 18 since the initial public offering of units in the beplay88网棋牌 ship in September 2012. The total cost of these stores sold to
Susser Petroleum beplay88网棋牌 s
, including post-completion true-up, was
$73.0 million
.
Senior Management Appointments
Stripes LLC
announced the appointment of
Sid Keswani
as Senior Vice President of Store Operations. Mr. Keswani brings to Stripes more than 18 years of retail operations experience with
Target
, most recently as Senior Vice President for the Southeast region of
the United States
. In this role, he was responsible for driving financial performance of approximately 475 locations.
Richard Sebastian
, a 17-year veteran with Stripes, has taken on the role of Senior Vice President of Facilities,
Construction and Applied Petroleum Technologies, Ltd.
, and will be responsible for the Company's maintenance, new store andcapitalexpenditure programs.
Steve DeSutter
, Stripes President and CEO, commented, "With the growing complexity of adding over 30 new stores and nearly 1,000 new employees a year, we need additional organizational depth and experience. We are very pleased to name Sid to our management team and are confident Richard's intimate knowledge of our stores will result in meaningful process improvement and efficiencies in our maintenance and capital programs."
Stephens Conference Presentation Today
Susser Holdings Corporation
Chief Executive Officer,
Sam L. Susser
will participate today in the
Stephens
2013
Spring Investment Conference
being held in New York City. The presentation will not be webcast, but a copy of the presentation that will be used duringinvestormeetings scheduled for
June 5-6
has been made available atwww.susser.comin theInvestorRelations section under Events and Presentations.
Susser Holdings Corporation
is a third-generation family led business based in
Corpus Christi, Texas
that operates approximately 565 convenience stores in
Texas
,
New Mexico
andOklahomaunder the Stripes® banner. Restaurant service is available in approximately 360 of its stores, primarily under the proprietary Laredo Taco Company® brand.
Susser Holdings
also is majority owner and owns the general partner of
Susser Petroleum beplay88网棋牌 s LP
, which distributes 1.5 billion gallons of motor fuel annually to Stripes® stores, independently operated consignment locations, convenience stores and retail fuel outlets operated by independent operators and other commercial customers in
Texas
,
New Mexico
,Oklahomaand
Louisiana
.
SOURCE
Susser Holdings Corporation
;
Susser Petroleum beplay88网棋牌 s LP
