Susser Holdings Announces Two New Store Openings/Dropdowns, Expansion of
Stripes Leadership Team
Company to Present Today at Stephens 2013 Spring Investment Conference
CORPUS CHRISTI, Texas, June 5, 2013
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 Partners LP (NYSE: SUSP) brings the total number
of new-build store "dropdowns" to 18 since the initial public offering of
units in the Partnership in September 2012. The total cost of these stores
sold to Susser Petroleum Partners, including post-completion true-up, was
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 and capital expenditure 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 during investor meetings scheduled for June 5-6
has been made available at www.susser.com in the Investor Relations 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 and Oklahoma under 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 Partners 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, Oklahoma and Louisiana.
Susser Holdings Corporation Dennard-Lascar Associates
Susser Petroleum Partners LP Anne Pearson, Senior Vice President
Mary Sullivan, Chief Financial (210) 408-6321,
(361) 884-2463, Ben Burnham, Vice President
SOURCE Susser Holdings Corporation; Susser Petroleum Partners LP
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