Shell expands US convenience retail footprint
Shell has signed an agreement to take full ownership of Tri Star Energy, a US convenience store operator and fuel distributor, the company announced on Tuesday. The deal will increase Shell's equity in Tri Star from 33% to 100%, giving it full ownership of 320 fuel and convenience retail sites in Tennessee and surrounding states, along with supply agreements with 552 additional dealer-owned locations.
Tri Star Energy operates across the southeastern United States and is anchored in the Nashville market. Shell is acquiring the remaining interest from The Parman Corporation, Kimbro Oil Company, and their subsidiaries. Financial terms were not disclosed.
The acquisition is expected to be completed by the end of 2026, subject to regulatory clearance and the satisfaction of closing conditions.
Strategic fit and executive comment
Machteld de Haan, President of Downstream, Renewables and Energy Solutions at Shell plc, said in a statement: "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."
Shell said the investment aligns with its strategy to reallocate capital to areas where it can deliver strong performance, as outlined at its Capital Markets Day in 2025. The company stated that 80% of its growth cash capex in the Mobility & Convenience business will be spent in 10 key markets, including the US.
The deal deepens Shell's existing US presence. The company already operates the largest branded fuel network in the US, with approximately 12,000 primarily wholesaler- and dealer-owned fuel and convenience retail sites across 49 states, serving more than 7 million customers daily.
Post-acquisition structure
Once the acquisition is complete, Tri Star Energy will be operated by Texas Petroleum Group, LLC, a wholly owned subsidiary of Shell Mobility & Convenience US LLC. Following the transaction, Shell Mobility & Convenience US LLC's portfolio will consist of nearly 550 company-owned convenience retail sites and supply agreements with approximately 650 dealer-owned sites across the southern US.