Shell completes acquisition of Landmark fuel sites in US

Shell Retail and Convenience Operations LLC, a wholly owned subsidiary of Shell Oil Products US (Shell), has completed the acquisition of company-owned fuel and convenience retail sites from the Landmark group of companies, the British oil major said.

The acquisition also includes supply agreements for the independently operated fuel and convenience sites, Shell said in a statement.

The acquisition would bring the company closer to its customers and enhance its market presence by growing its mobility footprint in a key region in the US, which is one of the largest fuels and convenience retail markets in the world, Shell said.

On October 26, 2021, Shell had announced an agreement to purchase the Landmark fuel and convenience network. The agreement since then has been adjusted to remove 64 company-owned Landmark sites, which currently sell Exxon Mobil branded fuels, Shell said. More than 1,400 Landmark team members will enable Shell to grow its company-owned network in the US, the company said.

The agreement also excludes fuel supply agreements for nine dealer-owned sites, which currently sell Chevron and Texaco branded fuels.

The company clarified that there would be no change in the agreement for sites within Texas Petroleum Group (TPG), previously a 50/50 joint venture between Equilon Enterprises and Landmark Industries Holdings. TPG will be a wholly owned subsidiary of Shell Retail and Convenience Operations, within Shell’s Downstream Mobility business.

With the acquisition, Shell is seeking to grow its retail footprint in a core market, provide opportunities to offer customers expanded fuelling options (including electric vehicle charging, hydrogen, biofuels and lower-carbon premium fuels), and allow the growth of non-fuel sales through an enhanced convenience offering, the company said.