Global Partners boosts network with terminal acquisition

Global Partners LP, a U.S.-based integrated energy supply company, has successfully completed the acquisition of four strategic liquid energy terminals from Gulf Oil Limited Partnership, significantly enhancing its service capabilities in the Northeastern United States. The terminals, located in Chelsea, Massachusetts; New Haven, Connecticut; Linden and Woodbury, New Jersey, bring approximately 3.0 million barrels of combined shell capacity under Global Partners’ expanding terminal network.

This USD212.3 million acquisition represents a pivotal development in Global Partners’ strategy to strengthen its infrastructure and broaden its market reach. Each terminal location is strategically chosen to augmentits presence in high-demand markets and to optimise its integrated network of energy products and services.

Eric Slifka, president and CEO of Global Partners, expressed enthusiasm about the acquisition, stating, “This acquisition further delivers on our commitment to strategic growth and our ability to identify and capitalize on assets that leverage our growing network.”

He further noted that the new terminals would help replace and enhance the capabilities previously served by the Revere terminal in Massachusetts, which the company divested in 2022 for USD150 million.

The newly acquired terminals will improve Global Partners’ ability to store and distribute a diverse range of liquid energy products including gasoline, distillates, and ethanol. This enhancement aligns with the company’s ongoing efforts to meet evolving market demands and to provide superior customer service across its operational regions.

“We are happy to finalise this acquisition and welcome these terminals into our growing network. These assets will strengthen our existing operations and provide us with new opportunities to serve our customers and enhance our competitive advantage.”

Headquartered in Waltham, Massachusetts, Global Partners continues to build on a legacy that spans over 90 years, evolving from a regional oil merchant to a Fortune 500 company renowned for its extensive network of energy products and guest-focused retail services. The company’s commitment to innovation and reliability in the liquid energy sector is demonstrated by its operation and maintenance of 49 terminals across the East Coast, stretching from Maine to Florida and into the Gulf States.

Global operates or maintains dedicated storage at 49 liquid energy terminals—with connectivity to strategic rail, pipeline, and marine assets—spanning from Maine to Florida and into the U.S. Gulf States. Through this extensive network, the company distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers. In addition, Global owns, supplies, and operates more than 1,700 retail locations across 12 Northeast states, the Mid-Atlantic, and Texas.

In December 2023, Global Partners completed its acquisition of 25 liquid energy terminals from Motiva Enterprises for USD305.8 million.