Chamberlain Hrdlicka‘s Tax Planning & Business Transactions Group, led by Habeeb ‘Hobbs’ Gnaim, represented Landmark Industries (Landmark) in entering into an agreement to sell its fuel and convenience store business to Shell Retail and Convenience Operations LLC, a wholly owned subsidiary of Shell Oil Products US (Shell).
The transaction between Landmark and Shell, one of the largest in 2021 for Chamberlain Hrdlicka, was supported by the legal team led by Habeeb ‘Hobbs’ Gnaim, with assistance of Caroline Cho, senior counsel, as well as associates, Michael Farrell and Renee Bayer.
Landmark, a staple in the Houston market, operates its Texas’ fuel and convenience stores under the well-known Timewise brand, agreed to sell 248 company-owned fuel and convenience retail sites to Shell. The contract also included supply agreements for an additional 117 independently operated fuel and convenience sites. The agreement covers the sale of:
- The remaining 50% share in Texas Petroleum Group, LLC (TPG), previously a 50/50 joint venture between Shell Oil Products US and Landmark. TPG includes 170 company-owned fuel and convenience sites and supply agreements for 63 independently operated fuel and convenience sites; and
- Landmark’s retail gas station network, including 78 company-owned fuel and convenience sites and 54 supply agreements for independently operated fuel and convenience sites.
Chamberlain Hrdlicka’s Tax Planning & Business Transactions practice, which is a section within the Firm that consists of hybrid attorneys that practice both tax and transactional law, helps clients understand the byzantine world of tax law and utilizes that highly specialized tax knowledge to clients’ best advantage when doing business transactions.