Shell announced an agreement to acquire the remaining 67% equity stake in Nashville-based Tri Star Energy LLC, giving the energy giant full control of a convenience store operator that runs Twice Daily stores, Sudden Service locations, and White Bison Coffee across Tennessee and neighboring states. The deal hands Shell 320 company-owned fuel and convenience retail sites along with supply agreements covering 552 dealer-owned locations, expanding a footprint the company had only partly controlled for years.
Shell previously held a 33% joint-venture interest in Tri Star Energy, according to CSP Daily News, and is now buying out the remaining stake from The Parman Corporation, Kimbro Oil Company, and their subsidiaries. Once the transaction closes, Tri Star Energy will be folded into Texas Petroleum Group LLC, a wholly owned Shell Mobility & Convenience US LLC subsidiary that was established in 2022 following Shell's acquisition of the Timewise convenience store chain, the outlet reports.
A Bigger Footprint Across the South
Upon closing, Shell Mobility & Convenience US's southern portfolio will grow to nearly 550 company-owned convenience retail sites, with supply agreements extending to roughly 650 dealer-owned locations, according to C-Store Dive. That marks a notable shift for a company whose U.S. retail presence has historically leaned on independent distributors rather than direct ownership. Shell currently runs the largest branded fuel network in the country, with roughly 12,000 mostly wholesaler- and dealer-owned sites spread across 49 states serving more than 7 million customers a day, per the same report.
The acquisition also fits into a broader capital strategy Shell laid out at its 2025 Capital Markets Day, which directs 80% of the company's Mobility & Convenience growth spending toward 10 key global markets, including the United States, according to the same report. As of 2026, Shell sits at No. 31 on CSP's Top 202 list of U.S. convenience store chains by store count, while Tri Star Energy ranks No. 46 — a combination that cements Shell's standing among the country's largest c-store operators, per the report.
Tri Star's Roots and Rapid Growth
Tri Star Energy was founded in Nashville in 2000 as a joint venture between The Parman Corporation and Kimbro Oil Company, later launching its flagship Twice Daily retail brand in 2011. In the years leading up to its sale, the company expanded aggressively through regional acquisitions, picking up 53 Sudden Service stores from Hollingsworth Oil in 2020 and 54 Little General and Maverick Quick Shop stores from Cox Oil in 2023, the report notes.
Not everything is changing hands, though. In a separate agreement tied to the retail sale, Kimbro Oil Company will retain and acquire Tri Star Energy's commercial fuel business, continuing to operate it as an independent entity that supplies bulk fuel to commercial and industrial accounts across 23 states, per the same account. Just two months before the acquisition was announced, Tri Star completed a multi-state rollout of a new fresh pizza program across 140 of its Twice Daily, Sudden Service, and Little General stores, underscoring the kind of store-level foodservice investment convenience chains have been making to compete with quick-service restaurants.
What Comes Next
According to Nashville Post, JPMorgan Chase is serving as financial adviser on the transaction, while Bricker Graydon is providing legal counsel to The Parman Corporation and Kimbro Oil Company. The Nashville Post also reports that Shell intends to operate Tri Star Energy's stores without interruption to daily service or existing customer programs once the deal closes.
Financial terms of the deal remain undisclosed beyond company statements describing a competitive EBITDA multiple, and it is still unclear whether Shell will keep the Twice Daily and White Bison Coffee names or eventually shift them under Texas Petroleum Group's Timewise banner. The transaction is subject to customary antitrust and regulatory review, with a targeted closing date of December 21, 2026.
