Aloha to Buy Shell Stations in Hawaii
HONOLULU -- Aloha Petroleum Ltd. agreed to buy Hawaii retail gas stations and convenience stores, along with and terminal operations, from of Shell Oil Products US, according to a report by the Honolulu Advertiser.
The deal would give Aloha several Neighbor Island markets. The exact number of retail locations and other assets being sold to Aloha is unknown, as some of the assets are subject to first-right-of-refusal or options to purchase held by other parties, according to the report. A representative from Aloha Petroleum declined to provide more details to CSNews Online.
Aloha is expected to continue to operate the locations under the Shell brand, according to a statement by Aloha that was cited by the paper. A closing date will be set following the completion of all conditions in the sale agreement, along with all required regulatory reviews, according to the company statement.
Aloha primarily operates on O'ahu and the Big Island, with more than 50 fueling locations under the Aloha and Mahalo banners, as well as more than 30 Aloha Island Mart convenience stores, the Advertiser reported. Aloha is also Hawaii's largest independently owned gasoline distributor and retailer, according to the report.
Bill Green, a longtime Honolulu service station operator who is a consultant to Kahala Shell, told the paper the transaction was expected.
"Basically the industry has across the board decided to get out of downstream marketing," said Green, who noted Shell has exited other U.S. mainland markets.
Green said he didn't know how many service stations Shell owned directly in the state, but that it sells product to many more that are operated by Shell dealers.
"We really don't know what it will mean," Green said in the report.
The deal would give Aloha several Neighbor Island markets. The exact number of retail locations and other assets being sold to Aloha is unknown, as some of the assets are subject to first-right-of-refusal or options to purchase held by other parties, according to the report. A representative from Aloha Petroleum declined to provide more details to CSNews Online.
Aloha is expected to continue to operate the locations under the Shell brand, according to a statement by Aloha that was cited by the paper. A closing date will be set following the completion of all conditions in the sale agreement, along with all required regulatory reviews, according to the company statement.
Aloha primarily operates on O'ahu and the Big Island, with more than 50 fueling locations under the Aloha and Mahalo banners, as well as more than 30 Aloha Island Mart convenience stores, the Advertiser reported. Aloha is also Hawaii's largest independently owned gasoline distributor and retailer, according to the report.
Bill Green, a longtime Honolulu service station operator who is a consultant to Kahala Shell, told the paper the transaction was expected.
"Basically the industry has across the board decided to get out of downstream marketing," said Green, who noted Shell has exited other U.S. mainland markets.
Green said he didn't know how many service stations Shell owned directly in the state, but that it sells product to many more that are operated by Shell dealers.
"We really don't know what it will mean," Green said in the report.