Convenience Store News - May 2018 - 14

INDUSTRY
ROUNDUP

Sunoco Puts More Distance Between Itself & Retail
The company completes a commission agent deal for
207 locations with CAL's Convenience

ALMOST A YEAR TO THE DAY after

revealing
that it was all but exiting the convenience
retailing business, Dallas-based Sunoco LP
completed the conversion of 207 locations
in west Texas, Oklahoma and New Mexico
to a commission agent.
CAL's Convenience Inc. acquired the stores
from Sunoco in a deal that closed in early
April. The two sides originally reached an
agreement in December.
CAL's Convenience
is located in Frisco,
part of the Dallas/Fort
Worth metropolitan
area. Its president and
CEO, Jack Whitney,
is familiar with the
convenience store
landscape in the
region. He previously served as vice
president of retail
operations at Sunoco
LP and Stripes LLC.
Whitney was also previously vice president of store operations for CEFCO
Convenience Stores from January 2013 to
July 2015, and a regional vice president at

This move follows
Sunoco's sale of nearly
all of its other convenience stores - roughly
1,000 - to Irving,
Texas-based 7-Eleven
Inc. for $3.3 billion.

14 Convenience Store News C S N E W S . c o m

The Pantry Inc. - former parent company
of Kangaroo Express - from March 1999
to December 2012.
With the conversion completed, Sunoco has
transitioned out of the majority of its c-store
operations in the continental United States.
The company still operates sites along toll
roads in New Jersey and New York, and has
its retail locations in Hawaii.
Under the commission agent model, Sunoco
owns, prices and sells fuel at the sites, paying the agent a fixed cents-per-gallon commission. In addition, Sunoco continues to
own approximately two-thirds of this portfolio in fee and will receive rental income from
the commission agent, who will conduct all
operations related to the convenience store
and any related restaurant locations.
This move follows Sunoco's sale of nearly all
of its other convenience stores - roughly
1,000 - to Irving, Texas-based 7-Eleven
Inc. for $3.3 billion. That deal marked the
beginning of Sunoco's shift away from
company-operated stores to focus on its
fuel supply business. The 200-plus stores
in west Texas, Oklahoma and New Mexico
were not part of that transaction.


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Table of Contents for the Digital Edition of Convenience Store News - May 2018

Contents
Convenience Store News - May 2018 - Cover1
Convenience Store News - May 2018 - Cover2
Convenience Store News - May 2018 - 3
Convenience Store News - May 2018 - 4
Convenience Store News - May 2018 - 5
Convenience Store News - May 2018 - 6
Convenience Store News - May 2018 - 7
Convenience Store News - May 2018 - Contents
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Convenience Store News - May 2018 - Cover3
Convenience Store News - May 2018 - Cover4
Convenience Store News - May 2018 - U1
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