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HOUSTON -- As part of Shell Oil Co.'s two-year-old portfolio optimization strategy, which called for a transition of its retail sites from direct-supplied and company-operated to wholesale- or joint venture-supplied, the company's affiliate, Motiva Enterprises LLC, sold 86 Shell-branded stations in the Dallas-Fort Worth (DFW) area to Quik Way Retail Associates II Ltd., according to a Motiva statement.
"The purchase of these stations complements our existing network well, and gives us the opportunity to serve even more customers throughout the Dallas-Fort Worth area," Alan Golman, principal for Quik Way, said in a statement. "As with all our locations, we look forward to providing our customers with high-quality fuels and great service at these sites."
As first reported by CSNews Online in a newsflash early Monday, Quik Way will lease 27 of the locations to 7-Eleven Inc., and the convenience stores at these locations will be subsequently rebranded to 7-Eleven. All 86 sites, including those leased to 7-Eleven, will continue to sell gasoline under the Shell brand, the company stated.
"Adding these 27 locations to a strong market like DFW will complement our current operation and add more convenient access for local consumers," Allen Pack, division vice president for 7-Eleven, said in a statement. "Over 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 27 stores will be company-operated, then franchised to qualified businesses in the area, according to the company. The agreement brings the number of 7-Eleven operated and franchised stores in the Metroplex area to 252, the company stated. A request for more information from 7-Eleven was unreturned by presstime.
"These store additions support our goals of growing our operation in key markets and increasing economies of scale to our infrastructure and advertising," said Pack, who is responsible for 878 7-Eleven stores in Texas, Arizona, Nevada, Colorado and Utah.
"Bringing together the Shell brand with the 7-Eleven brand will create a strong offer that attracts new customers," Golman added.
Quik Way was formed by principals of Dallas-based c-store operator Quik Way Group and commercial real estate development and management firm Brubeck Co. Quik Way Group operates 65 convenience stores, the majority of which also offer gasoline, and supplies approximately 85 million gallons of gasoline annually to dealers throughout Texas, according to the company. A call to the company for more information was unreturned by presstime.
"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," Paul Stanifer, south region general manager for Motiva, said in a statement. "They will help strengthen and grow the Motiva retail network in the Dallas-Fort Worth area."