CORPUS CHRISTI Texas Susser Holdings Corp., operator of 520 convenience stores under the Stripes and Town & Country brands, as well as 300 Laredo Taco Company and Country Cookin’ restaurant locations, has acquired 25 convenience stores from Jack in the Box Inc.
Terms of the deal, which was funded in cash, were not disclosed, the Corpus Christi-based Susser said Wednesday. Jack in the Box, the operator or franchisor to 2,199 namesake quick-service units and 491 Qdoba Mexican Grill fast-casual restaurants, said late last year it planned to sell its 61-unit Quick Stuff convenience store brand in numerous transactions.
This deal for 25 locations in Texas and Louisiana includes leaseholds for 24 stores and the real estate underlying one property. All convenience stores are adjacent to Jack in the Box restaurants, which the San Diego-based franchisor will retain. The locations will be rebranded to Susser concepts or operate under independent licenses, Susser said.
According to Jack in the Box’s latest quarterly filing with federal regulators, the Quick Stuff chain posted revenue of $227.1 million for the 40 weeks ended July 5 and a net loss of $20.4 million.
Contact Sarah E. Lockyer at [email protected].
