- Shell said Equilon Enterprises, doing business as Shell Oil Products US, signed an agreement to raise its stake in Tri Star Energy from 33% to 100%.
- Once completed, the deal would add 320 company-owned fuel and convenience sites in Tennessee and nearby states, plus supply agreements with 552 dealer-owned locations, Shell said.
- The deal is expected to complete by the end of 2026, subject to regulatory clearance and closing conditions, Shell said.
HOUSTON, United States — Shell has signed an agreement to raise its stake in Tri Star Energy from 33% to 100%, a move that would add 320 company-owned U.S. fuel and convenience sites if the deal closes.
The transaction is expected to complete by the end of 2026, subject to regulatory clearance and closing conditions, Shell said in an emailed press release today.
The emailed release did not disclose the purchase price. Shell already owns 33% of Tri Star Energy, a convenience-store operator and fuel distributor in the southeastern United States, anchored in Nashville. It is buying the remaining interest from The Parman Corporation, Kimbro Oil Company and their subsidiaries, Shell said.
Sites and Network
Shell said full ownership would cover an additional 320 fuel and convenience retail sites in Tennessee and surrounding states, as well as supply agreements with 552 dealer-owned locations. Those figures are not the same as Shell’s existing U.S. branded network of about 12,000 primarily wholesaler- and dealer-owned sites across 49 states.
Once the acquisition is complete, Tri Star Energy would be operated by Texas Petroleum Group, a wholly owned subsidiary of Shell Mobility & Convenience US, Shell said. That unit’s portfolio would then consist of nearly 550 company-owned convenience retail sites and supply agreements with about 650 dealer-owned sites across the southern U.S.
Strategy
Machteld de Haan, president of Downstream, Renewables and Energy Solutions at Shell, said the transaction is “fully aligned with our growth strategy to focus capital on businesses in which we have distinctive advantages.”
Shell said 80% of growth cash capital expenditure in its Mobility & Convenience business will be spent in 10 key markets, including the United States. It said the acquisition would more than double its U.S. company-owned convenience retail sites. The emailed release did not disclose the company-owned count before the 320 additional sites.