SAN ANTONIO — CST Brands Inc. has announced that the independent executive committee of its board of directors has approved a purchase program authorizing CST Brands and its subsidiaries to purchase up to an aggregate of $50 million of common units representing limited partner interests in CrossAmerica Partners LP.

“The CrossAmerica unit price presents an attractive investment yield, and this plan reinforces CST’s continued support of CrossAmerica and is in recognition of the strength of the partnership’s long-term business strategies,” said Kim Lubel, chairman and CEO of CST Brands.

Under the program, purchases may be made in amounts, at prices and at such times as CST Brands or its subsidiaries deem appropriate, all subject to market conditions and other considerations. The purchases may be made in the open market, as amended, or in privately negotiated transactions or otherwise. Any purchases will be funded from available cash on hand. Such purchases will be made in such quantities, at such prices, in such manner and on such terms and conditions at management’s discretion, based on factors such as market and business conditions, applicable legal requirements and other factors. The common unit purchase program does not require CST Brands to acquire any specific number of CrossAmerica common units and may be modified, suspended, extended or terminated by CST Brands at any time without prior notice.

The purchases will not be made from any officer, director or control person of CST Brands or CrossAmerica.

CST Brands does not intend for common unit purchases under the program to cause CrossAmerica’s common units to be delisted from the NYSE or cause the common units of CrossAmerica Partners LP to be deregistered with the Securities & Exchange Commission (SEC), CST Brands said.

As of Sept. 18, 2015, the partnership had 33,144,683 total units outstanding (includes both common and subordinated units). CST Brands is the beneficial owner of 5,284,308 common units of CrossAmerica Partners LP, representing a 15.9% ownership interest in the outstanding limited partner interests of CrossAmerica Partners LP.

CST Brands is one of the largest independent retailers of motor fuels and convenience merchandise in North America. Based in San Antonio, it has approximately 1,900 locations throughout the southwestern United States, New York and eastern Canada offering a broad array of convenience merchandise, beverages, snacks and fresh food. In the United States, CST Corner Stores sell fuel and signature products such as Fresh Choices baked and packaged goods, U Force energy and sport drinks, Cibolo Mountain coffee, FC Soda and Flavors2Go fountain drinks. In Canada, CST is the exclusive provider of Ultramar fuel and its Dépanneur du Coin and Corner Stores sell signature Transit Café coffee and pastries.

CST also owns the general partner of CrossAmerica Partners LP, a wholesale distributor of fuels, which distributes fuel to more than 1,100 locations across 23 states.