HOUSTON -- Motiva Enterprises LLC said that Quik Way Retail Associates II Ltd. will acquire Motiva's interest in 86 Shell-branded stations in the Dallas-Fort Worth area. According to a confidentiality agreement, the purchase price was not disclosed. Quik Way Retail Associates will lease 27 of these locations to 7-Eleven Inc., and the convenience stores at these locations will be rebranded to the 7-Eleven brand. All 86 sites, including those leased to 7-Eleven, will continue to sell gasoline under the Shell brand.
"The purchase of these stations complements our existing network well, and [image-nocss] gives us the opportunity to serve even more customers throughout the Dallas-Fort Worth area," said Alan Golman, principal of Quik Way Retail Associates, in a statement provided to CSP Daily News, which initially reported the story Friday. "Additionally, bringing together the Shell brand with the 7-Eleven brand will create a strong offer that attracts new customers."
Quik Way Retail Associates is a limited partnership formed by principals of Dallas-based firms Quik Way Group Inc. and the Brubeck Co. Together, the principals have extensive experience in real estate development and the operation of c-stores and gas stations throughout Texas, including 28 Shell-branded stations in the Dallas-Fort Worth area.
"With nearly five decades of experience, Quik Way Group has a long history of operational expertise in the retail fuels industry and a reputation for delivering excellent customer service," said Paul Stanifer, South region general manager for Motiva. "We think they will help strengthen and grow the Motiva retail network in the Dallas-Fort Worth area."
This divestment is in line with Motiva's publicly stated intent to transition company-owned retail assets to wholesale-supplied locations, in an effort to grow the Shell brand in the United States and improve the sustainability of the network in the long-term.
7-Eleven division vice president Allen Pack, who is in charge of store operations in a five-state area, said, "Adding these 27 locations to a strong market like DFW will complement our current operation and add more convenient access for local consumers. Over the course of the next several months, we will remodel these stores and add equipment for our signature products, like fresh food and grill items, coffee, Slurpee and Big Gulp beverages."
Initially, the stores will be company-operated and then franchised to qualified business people in the area.
Pack, who is responsible for 878 stores in Texas, Arizona, Nevada, Colorado and Utah, added, "These store additions support our goals of growing our operation in key markets and increasing economies of scale to our infrastructure and advertising."
This brings to 252 the number of 7-Eleven stores operated and franchised stores in the Metroplex.
Motiva refines and markets branded products through more than 8,000 branded stations in the eastern and southern United States. Shell Oil Co. is a 50% owner of Motiva, along with Saudi Refining Inc. There are more than 14,000 Shell-branded stations in the United States.
Quik Way Group operates 65 c-stores, of which 60 are also gas stations. In addition, Quik Way Group supplies about 85 million gallons of gasoline annually to dealers throughout Texas. Brubeck is a commercial real-estate development and management firm, which specializes in shopping centers, apartment complexes and office buildings.Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.