Shell Strengthens Its U.S. Market Presence With Completed Acquisition of Timewise Stores
HOUSTON — Shell closed its deal with Landmark to expand its footprint in the United States.
Shell Retail and Convenience Operations LLC, a wholly owned subsidiary of Shell Oil Products US, has completed the acquisition of certain company-owned fuel and convenience sites from the Houston-based Landmark group of companies.
The convenience stores operate in Texas under the Timewise brand. The chain began operations in 1982 with one c-store in Hempstead, Texas. Over the past 40 years it has grown to comprise more than 200 stores in and around the Houston, San Antonio, Austin and Laredo marketplaces.
The transaction also includes supply agreements for the independently operated fuel and convenience sites.
The more than 1,400 Landmark team members will enable Shell to grow its company-owned network in the U.S. Building on the strength of its existing networks, this acquisition brings Shell closer to its customers and enhances its market presence by growing its mobility footprint in a key region in the U.S., the company said in a statement.
With this acquisition, Shell advances its Powering Progress strategy in three ways:
- By growing its retail footprint in a core market;
- 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.
In October 2021, Shell announced it had reached an agreement to acquire the Landmark c-store and fuel network. At the time, the deal included 248 company-owned convenience stores and gas stations. However, the two sides amended the pact to remove 64 company-owned Landmark sites, which currently sell Exxon Mobil-branded fuels.
In addition, the agreement has been adjusted to remove fuel supply agreements for nine dealer-owned sites, which currently sell Chevron and Texaco branded fuels.
The transaction also called for Shell to purchase the remaining 50-percent share in Texas Petroleum Group LLC (TPG), previously a 50/50 joint venture between Equilon Enterprises LLC dba Shell Oil Products US and Landmark Industries Holdings Ltd.
According to Shell, there is no change to that part of the deal. TPG will now be a wholly owned subsidiary of Shell Retail and Convenience Operations within Shell's Downstream Mobility business.
"Shell remains committed to collaborating with wholesalers and dealers to serve customers, drive business value and thrive through the energy transition," the company said in a statement. In addition, the company "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."
Houston-based Shell is an affiliate of Royal Dutch Shell plc, a global group of energy and petrochemical companies with operations in more than 70 countries. In the U.S., Shell operates more than 14,000 Shell branded stations across 50 states.