HOUSTON -- Motiva Enterprises LLC, marketer of Shell-branded gasoline in the eastern United States, has sold its interest in 18 retail gas station sites and assigned Shell-branded supply agreements to an additional 35 sites in the Hartford/New Haven, Conn., area to CPD Parent Properties LLC, a subsidiary of Chestnut Petroleum Distributors Inc., a New York-based wholesaler and distributor. The stations will remain Shell-branded.
The sites were offered for bid last year with a number of parties participating. A confidentiality agreement between the parties [image-nocss] currently prohibits disclosure of the purchase price. In Hartford, 32 individual sites were sold to individual dealer/operators in fourth-quarter 2006, and those supply agreements will be assigned to Chestnut.
Chestnut Petroleum previously purchased assets from Motiva in the Danbury market in December 2004, and it is an established Shell-branded wholesaler.
Similar to Motiva, we have a strong commitment to quality, value and service, said Mickey Jamal, president of Chestnut Petroleum. We look forward to continuing to provide the communities of Hartford and New Haven with quality products, exceptional service and competitive prices under the Shell banner.
In late 2005, Motiva publicly stated its intent to transition retail assets to wholesale in a number of regions to better support its wholesale business. Jim Deakin, eastern region general manager, said, Motiva's strategy of growth through the wholesale class of trade is exemplified through this sale. We are very pleased to work with Chestnut Petroleum Distributors to grow and enhance the Shell brand in the Connecticut area.
Motiva Enterprises refines and markets branded products through more than 8,000 Shell-branded stations in the eastern and southern United States. Shell Oil Co. is a 50% owner of Motiva, along with Saudi Refining Inc.
New Paltz, N.Y.-based Chestnut Petroleum Distributors has been marketing gasoline products since 1981 in conjunction with companies such as Mobil, Exxon, Shell and Sunoco. Before this deal, it had 75 direct-op and dealer locations in New York, New Jersey and Connecticut.
Jamal has served on the board since 2001 and was the 2005-06 chair of the New York Association of Convenience Stores (NYACS). Born in Amman, Jordan, he came to the United States in 1969. He operated restaurant, bakery distribution and real estate businesses before entering the convenience store trade in 1981 with his wife, Kay. They opened their first location at Chestnut and Main streets in New Paltz, and Chestnut Petroleum was born. As the company expanded over the years, his brothers joined the business. In 2004, NYACS named the Jamals one of "New York's Foremost Convenience Store Families."
Jamal is also the founder and president of the 150-member Hudson Valley Dealers Association. He formerly was coordinator of Mobil's National Dealers Advisory Council.
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