Shell Retail and Convenience Operations, 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 Industries, 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.
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 Shell Downstream Director Huibert Vigeveno. “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.”
By enhancing Shell’s presence in the U.S., the 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 fueling 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.
Subject to regulatory clearance and the satisfaction of closing conditions, the deal is expected to be completed by year end.