WALTHAM, Mass.--(BUSINESS WIRE)--Global Partners LP (NYSE: GLP) today announced the signing of an agreement to purchase the retail fuel and convenience store assets of Connecticut-based Consumers Petroleum of Connecticut, Incorporated.

“Building on our history of successful strategic acquisitions, the pending purchase of Wheels is an excellent fit for Global, and expands our retail business in Connecticut,” said Global Partners President and CEO Eric Slifka. “The team at Consumers Petroleum has built an impressive brand, with locations along high-traffic routes throughout Connecticut. We are excited about adding these facilities to our portfolio and expect the transaction to be accretive within the first full year of operations.”

The acquisition includes 27 company-operated gas stations with “Wheels”-branded convenience stores in Connecticut. The transaction also includes fuel supply agreements for approximately 25 gas stations located in Connecticut and New York. The stations market fuel under the Citgo and Sunoco brands.

“We are very proud of what we have accomplished and the business we have grown over three generations,” said Richard Wiehl, Chairman of Consumers Petroleum/Wheels of CT, Inc. “We are excited to see how Global will continue to grow and improve the Wheels assets and feel that we are leaving the company in good hands.”

The purchase is expected to close in the first half of 2021, subject to regulatory approvals and other customary closing conditions.

About Global Partners LP

With approximately 1,550 locations primarily in the Northeast, Global Partners is one of the region’s largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers. In addition, Global engages in the transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. Global, a master limited partnership, trades on the New York Stock Exchange under the ticker symbol “GLP.” For additional information, visit www.globalp.com.