Earlier this month the Barbados based Sol Group bought 111 Shell gas stations and 30 distribution depots throughout the Caribbean. It was news in Belize because the purchase, which is worth US$200 million, included 15 Shell gas stations and the Shell depot in Belize. But if you are expecting your Shell 1-stop to become Sol 1-stop that won't happen at least not in the short-term. The Sol Group's Chairman Kyffin D. Simpson flew in to Belize today on his private jet for a courtesy visit with government and Shell Belize officials. And the word from Sol to Shell customers is that the more things change they will stay the same. Simpson says customers can expect the same Shell quality and products added to sol's improved service.
Kyffin Simpson, Sol Group Chairman
"We'd like to tell you we can give you cheaper gas but not at this moment. At the moment oil prices as you know are at a peak. We would like to think having shell as a partner we will be operating as Stewart just said under the same obligations and whatever contracts shell has will be honored by us and we look forward to and I hope we could give a better service to the consumer and make the purchasing of gas pleasant and as quick as possible for them."
Stewart Gill, Regional Director Sol Group
"The acquisition of Shell Belize initially to the retail consumers will be transparent. The Shell retail signage and brand will remain exactly as they are today. What we will bring as a company to the network is improve the image and improve service level with new investment in the existing stations and possibly a look at opportunities for new and expanded opportunities."
"Within the retail network the Shell signage is expected to remain, we have a long term licensing agreement with Shell to keep the Shell retail brand. Outside of the retail channel there will be Sol branded operations: Sol branded stationary in the offices, trucks and I know the fleet here is contractor operated but you would see Sol branding in those respects. But certainly in the medium term we have plans to keep Shell, it is one of the world's most prestigious brands and that Shell brand will be in Belize for many years to come."
Kyffin Simpson, Sol Group Chairman
"So we really look forward to working and developing the Shell brand and if anything enhancing it in Belize."
Shell Belize has 10 employees and, if anything, under Sol there will be need for increased staff.
The deal for the purchase has been signed but not sealed as it is still awaiting regulatory approval. The sale though should be completed early next year.
We note that Simpson is no stranger to Belize since he also works closely with the distributors for Suzuki in Belize. And for further perspective, Simpson sits on the board of First Caribbean International Bank.