Global Partners Acquires Retail Fuel and Convenience Store Assets from Honey Farms for $36M

10/18/17

WALTHAM, Mass.--(BUSINESS WIRE)--Global Partners LP (NYSE: GLP) announced today that it has acquired retail fuel and convenience store assets from Honey Farms, Inc. in a cash transaction. The acquisition includes 11 company-operated retail sites with fuel and convenience stores and 22 stand-alone c-stores. All of the sites are located in the greater Worcester, Massachusetts area. The purchase price was approximately $36 million.

“This transaction aligns with our objective of acquiring sites that expand our footprint and enable us to benefit from economies of scale in the purchase of fuel and convenience store merchandise,” said Global Partners President and CEO Eric Slifka.

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 www.globalp.com.

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