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Global Partners Announces Agreement to Acquire Convenience Stores and Gas Stations from Cheshire Oil Company

May 30, 2018

WALTHAM, Mass.--(BUSINESS WIRE)--May 30, 2018-- Global Partners LP (NYSE: GLP) today announced the signing of an agreement to purchase 10 company-operated gas stations and convenience stores from New Hampshire-based Cheshire Oil Company, LLC.

The Cheshire portfolio has nine stores in New Hampshire and one in Brattleboro, Vermont. All of the locations are branded T-Bird Mini Marts and market Citgo fuel. The purchase is expected to close in the third quarter of 2018 and is subject to customary closing conditions.

“This acquisition expands our retail presence in New Hampshire and benefits from economies of scale in the purchase of fuel and convenience store merchandise,” said Global Partners President and CEO Eric Slifka. “In addition to our recently announced agreement to acquire the retail fuel and convenience store assets of Champlain Oil Company in Vermont and New Hampshire, the Cheshire transaction reflects our strategic focus on making complementary acquisitions in markets that leverage our terminal assets, enhance synergies and expand our retail footprint.”

Global expects the acquisition to be accretive in the first full year of operations.

About Global Partners LP

Global Partners is a midstream logistics and marketing master limited partnership that owns, controls or has access to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast. With approximately 1,500 locations, primarily in the Northeast, Global is one of the largest regional independent owners, suppliers and operators of gasoline stations and convenience stores. Global is also 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 also engaged in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. For additional information, visit

Forward-looking Statements

Certain statements and information in this press release may constitute “forward-looking statements.” The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on Global Partners’ current expectations and beliefs concerning future developments and their potential effect on the Partnership. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Partnership will be those that it anticipates. All comments concerning the Partnership’s expectations for future revenues and operating results are based on forecasts for its existing operations and do not include the potential impact of any future acquisitions. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Partnership’s control) and assumptions that could cause actual results to differ materially from the Partnership’s historical experience and present expectations or projections.

For additional information regarding known material factors that could cause actual results to differ from the Partnership’s projected results, please see Global Partners’ filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Partnership undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

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

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