New Company to Operate 200-plus Sunoco Stripes Stores
New Company to Operate 200-plus Sunoco Stripes Stores
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A new company led by an industry veteran has entered into a commission-agent
agreement with Sunoco LP to operate 207 Stripes convenience stores in West
Texas, New Mexico and Oklahoma, Sunoco has confirmed to OPIS.
Jack Whitney, president and CEO of CAL's Convenience Inc., of Frisco, Texas,
could not be reached for comment. His Linked In bio indicates Whitney, educated
at the University of North Texas, has nearly two decades of experience in the
convenience-fuel business starting in 1999 with The Pantry, a large, publicly
held southeastern chain purchased by Couche-Tard in 2015.
More recently, he was an executive with CEFCO Convenience Stores and Sunoco's
Stripes LLC. Based on his bio, Whitney became chief executive officer of CAL's
in January.
The multi-state 207-unit chain of stores his company will operate were not part
of 7-Eleven Inc.'s recent purchase of the more than 1,000 c-stores Sunoco sold
to cease operating company stores.
CAL's "has entered into a master lease and a master commission agent (agreement)
to own and operate the convenience store business at those stores," a Sunoco
spokeswoman told OPIS. "Stripes LLC has granted CAL's a sublicense to use the
Stripes and Laredo Taco Company brands pursuant to Stripes' license agreements
with 7-Eleven Inc."
Under the commission agent model, she said that 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," she said.
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