Mergers & Acquisitions

Shell to Grow U.S. Company-Owned Portfolio With Brewer Oil Retail Deal

Acquisition will include 45 convenience stores, gas stations, cardlocks
shell brewer oil
Logos/Shell, Brewer Oil

Shell has signed an agreement to acquire 45 fuel and convenience-store sites in New Mexico through the acquisition of Brewer Oil Co.’s (BOC) retail division. The sites include c-stores, traditional gas stations and cardlocks for fleet vehicles.

“The acquisition of Brewer will strengthen our company-owned footprint in the U.S. as we continue to target opportunities for paced retail growth in key markets,” said István Kapitány, executive vice president of Shell Mobility Co. Operations LLC, Houston. “Brewer’s expansive customer base and desirable locations will deliver immediate value as we strive to meet customers’ evolving needs and provide a premium refueling and retailing experience.”

Subject to regulatory clearance and the satisfaction of closing conditions, the companies expect to complete the deal by the end of first-quarter 2024.

Albuquerque, New Mexico-based Brewer Oil opened its first service station in Artesia, New Mexico, in 1958. It serves wholesale and retail customers in the Land of Enchantment, along with fleet vehicle fueling, bulk fuel and lubricants for industrial and agricultural business, at its c-stores. Locations offer Shell and Chevron fuels.

Approximately 450 BOC employees will join Shell via the acquisition, providing the foundation for Shell's retail footprint in New Mexico. BOC and Shell have a long-tenured relationship, with BOC acting as a Shell wholesaler since the 1970s.

This acquisition will be Shell’s first operated retail presence in New Mexico, complementing Shell’s company-owned footprint in the United States, where it owns and operates nearly 200 convenience retail sites.

In mid-2022, Shell acquired 248 company-owned locations operating in Texas under the Timewise brand from the Landmark group of companies. The agreement also included supply agreements with an additional 117 independently operated fuel and convenience sites.

  • Shell is No. 45 on CSP’s 2023 Top 202 ranking of U.S. convenience-store chains by total number of company-owned retail outlets.

Shell serves about 8 million customers per day with a brand presence at approximately 12,000 fueling stations across 49 states. Globally, Shell serves around 32 million customers per day at its mobility sites, who visit for quality fuels, electric-vehicle (EV) charging and convenience and non-fuel products and services.

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