Global Partners sells 31 c-stores to Mirabito
Global Partners LP will sell Mirabito 31 gas stations and convenience stores located in New York and Pennsylvania.
The two companies will enter into long-term supply contracts for branded and unbranded gasoline and other petroleum products.
“The sale of these non-strategic sites reflects our ongoing strategy to streamline our retail portfolio and optimize our assets,” said Eric Slifka, president and CEO of Global Partners.
The sale is part of Global Partners´ plans to of disinvestments that includes around 125 non-strategic sites.
The companies said they expect the transaction to close in the third quarter of 2016, subject to customary due diligence.
With approximately 1,500 locations, primarily in the Northeast of the U.S., Global is one of the largest independent owners, suppliers and operators of gasoline stations and convenience stores.
The Mirabito Family of Cos. operates in eight states with multiple divisions including, natural gas and electric, home energy products and services, wholesale energy products and services, convenience stores and truck repair.
