Susser Holdings acquires Town & Country stores for $361M
Susser Holdings Corp. (Nasdaq: SUSS) reported this morning that it is acquiring the parent company of Town & Country Food Stores in an all-cash transaction for approximately $361 million.
Susser said the acquisition expands and diversifies its geographic footprint into West
Texas and Eastern New Mexico, and increases its retail store count by 50%.
San Angelo, Texas-based Town & Country is a privately owned convenience store operator with 140 locations serving Central and West Texas and the Texas Panhandle, and 28 locations serving Eastern New Mexico. Town & Country had total reported sales of $842 million. The company owns approximately 80% of its stores, along with a land bank of 14 undeveloped locations for future development.
Shares of Susser (SUSS) were halted in pre-market trading.
