New York -- Energy Transfer Partners, parent company of Sunoco, plans to acquire Susser Holdings Corp. in a stock-and-cash deal valued at $1.8 billion.
Susser operates 630 convenience stores under the Stripes and Sac-N-Pac banners, in Texas, and surrounding states. Sunoco operates more than 5,000 stores, primarily on the East Coast.
In a statement, the companies said the deal would create “a strong and diversified stand-alone retail business that provides significant value and synergy opportunities and a platform for future growth.”
Bob Owens, president and CEO of Sunoco, will serve as the president and CEO of the combined businesses.