Equilon Enterprises LLC, Motiva Enterprises LLC and CKE Restaurants, Inc. today announced the formation of two venture companies to develop sites that offer both quick-service restaurants and gasoline facilities nationwide. The companies had signed a memorandum of intent in June 1999.
The sites will feature full-sized Carl’s Jr. or Hardee’s restaurants. Most sites will offer Shell or Texaco gasoline, although some will be developed with only the restaurant offering. The new restaurants and gasoline offerings will be developed on existing Shell- and Texaco-branded locations and through the acquisition of new properties.
Two 50/50 limited liability companies are being established: Syntura West, LLC, the Equilon/CKE venture, will be based in Anaheim and Syntura East, LLC, the Motiva/CKE venture, will be based in Houston. Separate boards and management committees will oversee the new companies.
Site development will begin soon in pilot markets and then move into a more aggressive roll-out schedule in additional markets.
“I am excited about the opportunity to expand the products and services offered to our customers in conjunction with the revenue growth potential for our business,” said Larry Burch, vice president Sales and Marketing, Motiva Enterprises LLC.
John Darnley, vice president Sales and Marketing, Equilon Enterprises LLC, said, “Our objective is to grow our retail businesses. A strategic partnership with CKE Restaurants is a strong step in that direction.”
Motiva Enterprises LLC is a joint venture among Shell Oil Company, Texaco Inc. and Saudi Aramco. Equilon Enterprises LLC is a joint venture between Shell and Texaco. Together, the companies market Shell and Texaco products at more than 24,000 branded stations in the U.S. Visit the Motiva and Equilon website at www.equilonmotivaequiva.com.
CKE Restaurants, Inc., through its subsidiaries, franchisees and licensees, operates more than 3,800 quick-service restaurants, including 934 Carl’s Jr. outlets in 13 Western states and Mexico; 2,788 Hardee’s restaurants in 34 states and 10 countries; and 122 Taco Bueno restaurants in Texas and Oklahoma.
