Boston, MA 04/29/2014 (wallstreetpr) – Susser Petroleum Partners LP (NASDAQ:SUSP) is probably the largest independent wholesale motor fuel distributor in Texas area. It has branches located in other locations such as New Mexico, Louisiana and Oklahoma. In last one year or so, the amount of fuel supplied by the Susser Petroleum has crossed more than 1.4 gallons of motor fuel. It shows how big this firm has grown in a recent past. The latest news which is catching the eyes of all the people is about a merger deal which has taken place between the general partner for Sussar Petroleum Partners and Energy Transfer Partners (NYSE:ETP) which is a Dallas based working in the area of sustainable energy.
According to a public announcement made by companies, this deal is worth $1.8 million in cash and company stock. Susser Petroleum Partners LP (NASDAQ:SUSP) are a sister concern of Sussar Holdings Corp. (NYSE:SUSS), which previously had the distribution rights of Susser Petroleum. According to reports, the shareholders of Susser Holdings will either get 1.4506 ETP common units or $80.25 in cash or a mix of both for each share.
Susser Holdings is a prominent name in the petroleum industry and runs over 630 stores across cities like Texas, Oklahoma, and New Mexico. Past few years have not been that good for petroleum and gas industry and, therefore, the main focus of this company has been on growing in the areas where there it had lesser reach before. This is the main reason it has decided to merge its petroleum unit with Energy Transfer Partners of Dallas. Susser Petroleum Partners LP (NASDAQ:SUSP) eyes on the top notched place in petroleum and gas industry in years to come thus you can expect few more such merger and acquisition deals.
As the second quarter has just started and company has performed more than average in the first quarter, so how it performs in next quarter, will be interesting to watch. Industry experts have an eagle’s eye over the company, and you will get a clear picture in months to come.
