Shell plc is set to acquire the remaining 67% stake in Tri Star Energy, increasing its ownership from 33% to 100%, in a deal that deepens its U.S. fuel retail strategy. The transaction, with undisclosed financial terms, will give Shell full ownership of 320 fuel and convenience retail sites across Tennessee and nearby states, plus supply agreements covering 552 dealer-owned locations. This acquisition is part of Shell's plan to focus growth investment on key markets, with the U.S. being a priority for its Mobility & Convenience business, which will allocate 80% of growth capital expenditure to 10 key markets. Shell projects the investment will generate an internal rate of return above its marketing business hurdle rate. Following the deal, Shell's U.S. Mobility & Convenience portfolio will include nearly 550 company-owned sites and supply agreements for approximately 650 dealer-owned locations, more than doubling its company-owned footprint. The transaction is expected to close by the end of 2026, subject to regulatory approval, and Tri Star will be operated by Texas Petroleum Group, a wholly owned Shell subsidiary.
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PBF Energy IncShell plcShell acquires remaining 67% of Tri Star Energy, expanding its U.S. Mobility & Convenience footprint with expected returns above hurdle rate
Tri Star Energy is being fully acquired by Shell, giving it full ownership of 320 fuel and convenience retail sites
