Shell Retail and Convenience Operations, a wholly owned subsidiary of oil supermajor Shell, has completed the acquisition of certain company-owned fuel and convenience retail sites from Landmark Industries.
Shell said that the acquisition also included supply agreements for the independently operated fuel and convenience sites.
Building on the strength of its existing networks, this acquisition brings Shell closer to its customers and enhances Shell’s market presence by growing its mobility footprint in a key region in the U.S., which is one of the largest fuels and convenience retail markets in the world.
With this acquisition, Shell is advancing its Powering Progress strategy in three ways – growing its retail footprint in a core market, 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.
It is worth noting that Shell announced it had reached an agreement to purchase the Landmark fuel and convenience network back on October 26, 2021. The agreement has been adjusted to remove 64 company-owned Landmark sites, which currently sell ExxonMobil branded fuels.
The agreement has also been adjusted to remove fuel supply agreements for nine dealer-owned sites, which currently sell Chevron and Texaco branded fuels.
According to Shell, there is no change in the agreement for sites within the Texas Petroleum Group, previously a 50/50 joint venture between Equilon Enterprises and Landmark Industries Holdings. The acquisition will add more than 1,400 Landmark team members to transition to Shell and help the supermajor grow its company-owned network in the U.S.
Shell will continue to support and grow with our wholesalers, dealers, and JV partners who own and operate more than 13,000 Shell-branded sites across the U.S.
To more explain Landmark Industries’ role and importance, it must be said that it is headquartered in Houston, Texas, and it owns and operates 240 convenience stores under various major fuel brands.
Landmark also is a leading wholesale petroleum distributor of Shell, Chevron, Exxon, Mobil, Texaco, and Valero branded products to the independent convenience store and grocery store operators in the Texas marketplace.
Source: Rigzone.com
