One of the biggest and most significant M&A transactions of 2022 was Shell’s acquisition—announced in October 2021 but completed in June 2022—of 184 c-stores operating in Texas under the Timewise brand from the Houston-based Landmark group of companies. The agreement also included supply agreements with an additional 117 independently operated fuel and convenience sites. The deal marked Shell’s return to retail as Shell Retail and Convenience Operations LLC, Houston, after divestment of its company-owned sites in 2004.