Shell to grow company-owned retail sites in the U.S.
Shell Retail and Convenience Operations LLC, a wholly owned subsidiary of Shell Oil Products US, has signed an agreement to acquire 248 company-owned fuel and convenience retail sites from the Landmark group of companies, whose convenience stores operate in Texas under the Timewise brand. The agreement also includes supply agreements with an additional 117 independently operated fuel and convenience sites.
This acquisition enables Shell to continue its existing premium product offerings. As one of the largest fuels and convenience retail markets globally, growing in the U.S. gives Shell the opportunity to build on its successful brand presence and leverage the strength of its ongoing business relationships.
“Today’s announcement increases our presence in a core market and shows our growth strategy in action,” said Huibert Vigeveno, Shell’s Downstream director. “It brings us closer to more customers and strengthens our ability to meet their rapidly changing needs. The deal also allows us to work hand-in-hand with customers to help shape demand for low-carbon energy products and services while profitably decarbonizing alongside them.”
Growing its retail footprint
By enhancing Shell’s presence in the U.S., this acquisition advances Shell’s Powering Progress strategy in three ways: by growing its retail footprint in one of its core markets, by providing opportunities to offer customers expanded fuelling options (including electric vehicle charging, hydrogen, biofuels and lower-carbon premium fuels) and by allowing for the growth of non-fuel sales through an enhanced convenience offering.
The agreement covers the purchase of the remaining 50% share in Texas Petroleum Group, LLC (TPG), previously a 50-50 joint venture between Equilon Enterprises LLC (d/b/a Shell Oil Products US) and Landmark Industries Holdings, Ltd. TPG includes 170 company-owned fuel and convenience sites and supply agreements for 63 independently operated fuel and convenience sites. It also includes Landmark’s retail gas station network (including gas stations as well as its dealer supply agreements), as acquired from Landmark Industries, LLC, Landmark Industries Energy, LLC, and Landmark Petroleum, LLC, which includes 78 company owned fuel and convenience sites and supply agreements for 54 independently operated fuel and convenience sites.
The transaction is subject to regulatory clearance and the satisfaction of closing conditions. The deal is expected to be completed by year end.