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July 27, 2015

Susser Petroleum Property Comes Out on Top in Bid for 28 Quick Stops

McALLEN, Texas — Sunoco LP’s Susser Petroleum Property Co. LLC is the expected buyer of 28 Quick Stop convenience stores in southern Texas in the Chapter 11 bankruptcy auction of Aziz Convenience Stores LLC, according to court documents obtained by CSP Daily News.

Susser Petroleum Property was the stalking horse bidder, and the minimum bid was set at $29.6 million. The final sale price was $41.6 million.

The court will announce the approval of the successful bid at a hearing on July 28.

Aziz filed a voluntary petition for bankruptcy reorganization in August 2014 following unstable sales due to the economic downturn.

Established in 1983, Aziz is a privately owned and operated, independently branded chain of 28 convenience stores and gas stations based in McAllen, Texas.

Watch for details on CSPnet.com and in CSP Daily News.

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