USA: Global Partners acquires Wheels convenience stores
The transaction includes 26 sites owned by Consumers Petroleum of Connecticut.
Northeast retailer Global Partners LP has acquired the fuel and convenience store assets from Consumers Petroleum of Connecticut. The growth strategy through acquisitions is designed to create new sources of income and increase overall earnings power.
The transaction includes 26 company-operated “Wheels” branded convenience stores in Connecticut, as well as fuel supply agreements with 22 sites in Connecticut and New York. As part of a Federal Trade Commission consent order, Global has divested seven select retail sites in Connecticut.
“The Wheels retail fuel and convenience stores are well-sited to benefit from synergies in our operations and supply network, ultimately contributing to Global’s bottom line. Like Global, Consumers Petroleum is a family founded company that grew to include high-value real estate and fuel operations; we are excited to welcome them to our portfolio,” said Greg Hanson, Chief Financial Officer.
Global delivers essential fuel, food and supplies to local communities and supports non-profits and community organizations throughout its footprint, at more than 1,600 retail locations and more than 20 bulk energy terminals.
