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Fairness Opinion Detail

Susser Holdings Corporation to Energy Transfer Partners, L.P.

Deal Information

Target
Susser Holdings Corporation
Acquiror
Energy Transfer Partners, L.P.
Sector
Fuel & Convenience Stores
Target Type
Public
Acquiror Type
Strategic
Advisors
BofA

Transaction Metrics

Enterprise Value
EV / LTM Sales
EV / LTM EBITDA
EV / Fwd EBITDA

Advisor Transaction Comparables

Comparable transactions cited by the advisor, excluding the subject transaction.

Advisor: BofA

EV/LTM EBITDA selected range: 7.5x - 9.0x

10 comps
Jul 2003Clark Retail Enterprises, Inc.Alimentation Couche-Tard Inc.----
Aug 2003Golden GallonThe Pantry, Inc.----
Oct 2003Circle K Stores, Inc.Alimentation Couche-Tard Inc.----
Jan 2004Uni-Marts Inc.Green Valley Acquisition Co. LLC----
Oct 20057-Eleven, Inc.Seven-Eleven Japan Co., Ltd.----
Dec 2005Susser Holdings CorporationWellspring Capital Management LLC----
Sep 2007Town & Country Food StoresSusser Holdings Corporation----
Sep 2010Casey's General Stores, Inc.Alimentation Couche-Tard Inc.----
Nov 2010Casey's General Stores, Inc.7-Eleven, Inc.----
Apr 2012Statoil Fuel & RetailAlimentation Couche-Tard Inc.----
Mean---
Median---