Global Partners acquires Tidewater Convenience’s retail network
The 15 purchased sites are located in Southeast Virginia and have expanded the firm’s footprint across the mid-Atlantic region.
Global Partners has announced the purchase of Tidewater Convenience’s store network, further expanding the company’s retail footprint in the mid-Atlantic region. The acquisition includes a total of 15 locations, 14 of them being company-operated, in Southeast Virginia.
Global delivers essential products including fuel, food, and supplies to local communities and supports non-profits and community organisations throughout its footprint. Approximately 1,700 retail locations and more than 20 bulk energy terminals are currently operated by the firm.
“We are committed to continuing to expand by adding strategic locations to our vertically integrated network. Virginia is a key market that complements our existing portfolio. We share Tidewater’s values around community and a commitment to guest experience, and we look forward to continuing to deliver high-quality service at these locations,” said Mark Cosenza, SVP Gasoline, Distribution and Station Operations of Global Partners.
Tidewater Convenience originated in 1992, when Charles and Carol Weaver acquired two Texaco stores in Virginia Beach. Throughout the next decades, the firm grew from just two locations up to 17 installations while the Weavers maintained as owners.
“It has been an honor and a pleasure to serve the people of Hampton Roads by providing motor fuel and other products for the past 30 years. We are very thankful for the many talented people who helped build Tidewater Convenience into what it is today,” commented Charles Weaver.
Matrix Capital Markets Group, Inc. served as the financial advisor to the seller and help complete the transaction.
