Shell is moving to take full control of Tri Star Energy, a major convenience store operator and fuel distributor anchored in Nashville, in a deal that will significantly expand the oil giant’s company-owned retail footprint across the southeastern United States.

 

Equilon Enterprises LLC, doing business as Shell Oil Products US, has signed an agreement to raise its stake in Tri Star Energy from 33% to 100%.

 

The transaction will give Shell full ownership of an additional 320 fuel and convenience retail sites across Tennessee and surrounding states, along with supply agreements covering 552 more dealer-owned locations.

 

“Tri Star has built a strong business with high-quality assets, a dedicated team and a loyal customer base. The transaction is fully aligned with our growth strategy to focus capital on businesses in which we have distinctive advantages and can create long-term shareholder value,” said Machteld de Haan, President of Downstream, Renewables and Energy Solutions, Shell plc.

 

The acquisition marks a significant step in Shell’s push to strengthen its presence in the US retail fuel and convenience market. Shell already operates the country’s largest branded fuel network, with approximately 12,000 primarily wholesaler- and dealer-owned fuel and convenience retail sites spanning 49 states and serving more than 7 million customers every day.

 

Taking full ownership of Tri Star will give Shell a substantially larger company-owned network in the US, reinforcing its position in a market the company has identified as a key growth priority.

 

The deal also fits squarely within Shell’s broader capital-allocation strategy. The company is shifting investment away from lower-return businesses and toward markets where it sees stronger performance potential and a competitive edge.

 

Shell said at its 2025 Capital Markets Day that 80% of growth cash capital expenditure in its Mobility & Convenience business will be directed to 10 key markets, including the US, where the company generates the majority of its cash flow.