Shell has officially signed an agreement to acquire the remaining 67% interest in Tri Star Energy, increasing its total ownership from 33% to 100%.
This strategic acquisition is significant because it gives Shell full ownership of an additional 320 fuel and convenience retail locations across Tennessee and neighboring states. In addition to these retail locations, the deal includes supply agreements for another 552 dealer-owned sites, thereby enhancing Shell’s operational reach in the region. The remaining stake is being purchased from The Parman Corporation, Kimbro Oil Company, and their respective subsidiaries, marking a pivotal shift in industry ownership.
After the transaction closes, Texas Petroleum Group, a wholly owned subsidiary of Shell Mobility & Convenience US, will operate Tri Star Energy. This organizational structure will allow Shell to integrate Tri Star’s locations and assets into its existing operations seamlessly. After the acquisition, Shell’s southern U.S. portfolio will consist of nearly 550 company-owned convenience stores, supplemented by supply agreements with approximately 650 dealer-owned locations.
Currently, Shell boasts a robust presence in the fuel and convenience sector, with around 12,000 locations predominantly run by wholesalers and dealers across 49 states. These locations collectively serve over 7 million customers each day, underscoring Shell’s significant market impact.
Shell expects to complete the transaction by the end of 2026, subject to obtaining necessary regulatory approvals and satisfying other customary conditions typically involved in such acquisitions.
This strategic move positions Shell to strengthen its foothold in the southern U.S. market, paving the way for enhanced customer service and growth opportunities.tory approvals and other customary conditions.
KEY QUOTE:
“Tri Star has built a strong business with high-quality assets, a dedicated team and a loyal customer base. The transaction is fully aligned with our growth strategy to focus capital on businesses in which we have distinctive advantages and can create long-term shareholder value.”
Machteld de Haan, President of Downstream, Renewables and Energy Solutions at Shell
