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SSP Partners Shells Out $35.7 Mil for Tex-Mart Chain

CORPUS CHRISTI, TX-SSP Partners has taken over the Tex-Mart Food Store chain amid plans for an expansion. The beef up will come in south Texas. which is perceived as the strongest emerging market.

By Jennifer Brenner Andrade | Updated on March 25, 2001

CORPUS CHRISTI, TX-SSP Partners, a Corpus Christi-based convenience store operator, has purchased 30 Tex-Mart Food Stores in the Rio Verde Valley of Texas and 33 dealer locations.Sam L. Susser, president and CEO of SSP Partners, tells GlobeSt.com that the deal comprises the entire whole chain. Franchise Finance Corp. of America financed the $35.7 million buy.

Susser tells GlobeSt.com that SSP Partners plans to build more Tex-Mart stores. SSP Partners operates 215 Circle K convenience stores in Texas and Oklahoma. Currently, the company has eight units in Wichita Falls, TX and 20 in southern Oklahoma. The remainder are on the southern Gulf Coast and the Rio Grande Valley, an area that company is convinced are emerging markets. The strongest markets are in south Texas, which is where Susser plans to make his investment.

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