Global Partners to acquire over 60 retail fuel assets from Champlain Oil
Global Partners, one of the largest fuel distributors in the United States, has agreed to acquire retail fuel and convenience store assets of Vermont-based Champlain Oil Company.
According to a company release, these assets to be purchased include 37 company-operated gas stations with Jiffy Mart-branded convenience stores in Vermont and New Hampshire, and approximately 24 leased or owned fuel sites.
“Jiffy Mart is an established brand with locations along high-traffic routes throughout northern New England,” said Eric Slifka, Global Partners President and CEO.
Global Partners will also purchase Champlain Oil’s fuel supply agreements for approximately 70 gas stations, selling major fuel brands such as Mobil, Shell, Citgo, Sunoco, and Irving.
“Building on our skill as a strategic acquirer, this acquisition is an excellent fit for Global, expanding our retail business into Vermont and growing our presence in New Hampshire,” said Slifka.
The transaction is expected to close in the third quarter of 2018 and is subject to regulatory approvals and other customary closing conditions.
