Make Room for RM
RM Petroleum acquires 15 Shell locations in Chicago area from Equilon
CHICAGO -- RM Petroleum Inc., a Chicago-based petroleum distributor, along with Riteline Properties LLC, its affiliated real-estate holding company, has announced that it has acquired 15 Shell retail petroleum locations in the greater Chicago metropolitan area, and the right to supply those locations, from Equilon Enterprises LLC, dba Shell Oil Products US.
"This particular transaction closed May 19," Shell spokesperson Karyn Leonardi-Cattolica told CSP Daily News, confirming that 15 sites were transferred to RM Petroleum. "This is part of Shell's vision of being [image-nocss] the best fuels supplier in the United States, hence the transition of direct-delivered sites to wholesale delivered."
The terms of the agreement do not permit disclosing the price, Leonardi-Cattolica said.
RM Petroleum intends to supply the acquired locations with Shell-branded motor fuels and to operate or lease the locations under the Shell brand, the company said.
Revealing his customer service-oriented operating philosophy, Robert Stambolic, the principal of RM Petroleum and a longtime retailer and petroleum jobber, said, "I feel the public is more comfortable with and supports a strong petroleum brand and will continue to make petroleum and convenience store purchases when a store is maintained with attention to customer service and strong operating guidelines, including cleanliness and safety."
RM Petroleum already owns or operates other Shell-branded locations in Illinois and Wisconsin and intends to continue expanding the Shell brand presence to other nearby markets where appropriate, it added.
Expansion plans include building "new-to-industry" locations and converting existing retail gasoline locations to the Shell brand, RM Petroleum said, adding that it "welcomes retailers and real-estate professionals to partner in such expansions."