Groceries, Restaurant, Gas Fuel a Family Business
Published Mar 21, 2007
Circle K has made a name for itself in Texas and Oklahoma.
When Minna Schwartz married Sam Susser in 1938, neither of them suspected they were launching a financial dynasty, but 68 years later, their family business is among the top convenience store operators in the country.
Now run by their grandson, Sam L. Susser, Susser Holdings LLC, through its subsidiary, SSP Partners, operates 319 convenience stores in Texas and Oklahoma, which were once named Circle K and are currently being renamed Stripes. The firm is also known as the largest non-refining distributor of gasoline in Texas.
In 2005, the company bought 809.5 million gallons of fuel and distributed it to its own and other independent retailers.
In May 2006, SSP announced plans to go public at a date to be determined and hinted at future expansion.
“We believe our unique retail/wholesale business model, scale, market share, and food service and merchandising offerings, combined with our highly productive new store model and selected acquisition opportunities, position us for ongoing growth in sales and profitability,” states the company’s business description filed with the Securities and Exchange Commission.
SSP began with two gas stations in Corpus Christi, owned by Minna Schwartz and managed by husband Sam. The company reins were taken over by the second generation in the 1960s, and the business expanded.
The past 10 years have seen tremendous growth, since grandson Sam L. Susser joined the family business in 1988.
One of the company’s greatest successes has been its Laredo Taco Co., its proprietary restaurants in 130 of its convenience stores that offer lunch and breakfast tacos, chicken and other hot foods prepared in in-store kitchens.
Story by Laura Hill
Photo by Wes Aldridge
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