Global Partners Acquires Boston Harbor Terminal from Global Petroleum Corp.

January 20, 2015

Strategically located terminal has 2.1 million barrels of refined petroleum products storage capacity

WALTHAM, Mass.--(BUSINESS WIRE)--Jan. 20, 2015-- Global Partners LP (NYSE: GLP) (“Global Partners” or “the Partnership”) today announced that it has acquired a terminal in Boston Harbor from Global Petroleum Corp. (“GPC”), a privately held affiliated company, for total consideration of $23.65 million, subject to customary post-closing adjustments. The facility, which has been leased to the Partnership by GPC for many years, has storage capacity of 2.1 million barrels of refined petroleum products, including heating oil, gasoline, distillates, diesel, kerosene and blendstocks. The Partnership is financing the transaction with available capacity under its revolving credit facility.

“This acquisition is a great opportunity to expand our portfolio of owned and operated terminals,” said Chief Operating Officer Mark Romaine. “This facility has been and will remain an integral part of the Global Partners infrastructure. The terminal enables us to continue to serve our marketing and throughput volumes in the region. We expect this transaction to be accretive in the first full year of operations.”

The terms of the transaction were unanimously approved by the Board of Directors of Global GP LLC, based on the unanimous approval and recommendation of the Board's conflicts committee, which is composed entirely of independent directors.

About Global Partners LP
A publicly traded master limited partnership, Global is a midstream logistics and marketing company that owns, controls or has access to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast. Global also is one of the largest distributors of gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers in New England and New York. The Partnership is a leader in the transportation of crude oil and other products by rail across its “virtual pipeline” from the mid-continental U.S. and Canada to the East and West Coasts for distribution to refiners and others. With nearly 1,500 locations, primarily in the Northeast, Global also is one of the largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global is No. 146 in the Fortune 500 list of America’s largest corporations. For additional information, visit

Forward-Looking Statements
This news release may contain forward-looking statements. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain the words “may,” “believe,” “should,” “could,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “will likely result,” or other similar expressions. In addition, any statement made by Global Partners LP’s management concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects and possible actions by Global Partners LP or its subsidiaries are also forward-looking statements.

Although Global Partners LP believes these forward-looking statements are reasonable as and when made, there may be events in the future that Global Partners LP is not able to predict accurately or control, and there can be no assurance that future developments affecting Global Partners LP’s business will be those that it anticipates.

For additional information about risks and uncertainties that could cause actual results to differ materially from the expectations Global Partners LP describes in its forward-looking statements, please refer to Global Partners LP’s Annual Report on Form 10-K and subsequent filings the Partnership makes with the Securities and Exchange Commission.

Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made. Global Partners LP expressly disclaims any obligation or undertaking to update forward-looking statements to reflect any change in its expectations or beliefs or any change in events, conditions or circumstances on which any forward-looking statement is based.

Source: Global Partners LP

Global Partners LP
Daphne H. Foster, 781-894-8800
Chief Financial Officer
Edward J. Faneuil, 781-894-8800
Executive Vice President, General Counsel and Secretary