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Lehigh Gas Partners LP : Lehigh Gas Partners LP Leases 19 Convenience Stores in Cleveland Market to 7-Eleven, Inc.


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2013-03-21 18:11:58 -

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                         Lehigh Gas Partners LP Leases
                            19 Convenience Stores in
                       Cleveland Market to 7-Eleven, Inc.


ALLENTOWN, PA (March 21, 2013) - Lehigh Gas Partners LP (NYSE:LGP) announced
today the company has leased 19 convenience stores in the Cleveland market to 7-
Eleven, Inc. The effective date of the leases will 
vary, but all leases are expected to be in place by March 31, 2013. Lehigh Gas Partners will retain ownership of the 19 sites while 7-Eleven will rebrand the locations as "7-Eleven" stores and manage the convenience store operations. The retail fuel business at the 15 stores in Cuyahoga County and four in Lorain County, will continue to be owned and operated by Lehigh Gas- Ohio, LLC, an entity managed by Joe Topper, chairman and CEO of Lehigh Gas Partners. "As the world leader in convenience retailing, 7-Eleven is a strong credit-rated tenant with a substantial balance sheet and a well-known global brand," Topper said. "Lehigh Gas Partners looks forward to working with 7-Eleven and is confident customers will benefit from the rebranding of these locations." "We continue to look for opportunities to build our presence in Ohio through relationships with solid companies like Lehigh Gas Partners," said Stan Reynolds, 7-Eleven executive vice president and CFO. "This is only the beginning, and with this transaction, we will create a strong presence in Cleveland on which to build." Forward-Looking Statements This news release contains "forward-looking statements," which are based on current plans and expectations and involve a number of risks and uncertainties that could cause actual results and events to vary materially. For a full discussion of these risks and uncertainties, please refer to the "Risk Factors" section of the Registration Statement on Form S-1 initially filed by Lehigh Gas Partners LP on May 11, 2012 and the information included in subsequent amendments and other filings. These forward-looking statements are based on and include our expectations as of the date hereof. Subsequent events and market developments could cause our expectations to change. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if new information becomes available, except as may be required by applicable law. About Lehigh Gas Partners Lehigh Gas Partners, headquartered in Allentown, Pa., was formed to engage in the wholesale distribution of motor fuels and to own and lease real estate used in the retail distribution of motor fuels. Lehigh Gas Partners owns and leases sites located in nine states: Pennsylvania, New Jersey, Ohio, Florida, New York, Massachusetts, Kentucky, New Hampshire and Maine. For additional information, please visit www.lehighgaspartners.com. About 7-Eleven, Inc. 7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses more than 10,000 7-Eleven® stores in North America. Globally, 7-Eleven has some 50,000 stores in 16 countries. During 2011, 7-Eleven stores generated total worldwide sales close to $76.6 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Forbes magazine's 2011 list of Top Franchises for the Money; #3 spot on Entrepreneur magazine's Franchise 500 list for 2012, #3 in Forbes magazine's Top 20 Franchises to Start, and #2 in Franchise Times Top 200 Franchise Companies. 7- Eleven was named No. 3 on Fast Company magazine's 2013 list of the "World's Top 10 Most Innovative Companies in Retail." Hispanic Magazine named 7-Eleven among its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven received the 2010 Retailer of the Year honor from PL Buyer because of the company's private-label brand initiative. 7-Eleven is franchising its stores in the U.S. and expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com. Investor Contact: Karen Yeakel Vice President, Investor Relations Lehigh Gas Partners 610-625-8126 kyeakel@lehighgas.com Media Contact: Jeff Vaughan President Vaughan Communications Group 610-533-4264 jv@voncom.com This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Lehigh Gas Partners LP via Thomson Reuters ONE [HUG#1687278]


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