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Full story
| Reitan teams with Shell |
| [30.08.2007, 10:53pm, Thu. GMT] |
One of Norway's largest retailing and real estate firms, Reitangruppen, is linking up with oil major Shell to run its convenience stores inside Shell stations. Reitan said it had cut a "comprehensive, international deal" to operate Shell's convenience stores through Reitan’s 7-Eleven division. The deal will leave it running the petrol station stores at 91 YX stations in Norway, 66 YX stations in Denmark and 112 Shell stations in Sweden.The YX stations, owned by Reitan will be converted to Shell stations with Shell handling their petrol sales and Reitan handling the attached retail operations.
Odd Reitan, patriarch of Reitangruppen that made it big on its REMA 1000 cut-rate grocery stores in Norway, said his "dream" is to take over operations of Shell's gas station convenience stores on the European continent.
Reitan already was running the YX stations in Norway, after taking them over from Norsk Hydro. "We swapped some stations and got a pile of convenience stores instead," he said.
Shell runs around 20,000 gas stations throughout Europe. |
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