Habeeb "Hobbs" Gnaim, Caroline Cho, Michael Farrell, and Renee Bayer represent Landmark Industries in sale to Shell
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).
Landmark is a long-time client of Habeeb ‘Hobbs’ Gnaim, Shareholder in the Firm, who is also on the Firm's Management Board and the Section Leader of the Firm's Tax Planning & Business Transactions. Gnaim, who practices both tax planning and corporate transactions, has a long history of representing various clients in the fuel supply and convenience store industry.
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 thriving 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. The practice advises clients with transactions in order to maximize tax benefits - and avoid tax disasters. Whether the transactions are related to a business or involves a personal investment, the Tax Planning & Business Transactions team can help structure and carry out transactions in order to achieve the best corporate results under federal, state, local and international tax laws.