Global Partners LP Completes Acquisition of Four Liquid Energy Terminals from Gulf Oil

Global Partners LP (NYSE: GLP) (“Global” or the “Partnership”) announced today the successful closing of its acquisition of four liquid energy terminals from Gulf Oil Limited Partnership (“Gulf Oil”). The terminals are strategically located in Chelsea, MA, New Haven, CT, Linden, NJ, and Woodbury, NJ, and will further enhance Global’s position in the energy economy of the Northeast.

With a combined shell capacity of approximately 3.0 million barrels, these terminals expand Global’s ability to store and distribute gasoline, distillates, and ethanol. This acquisition aligns with Global’s strategy to acquire and invest in assets that allow the Partnership to leverage scale from its integrated network in high demand markets.

“This acquisition further delivers on our commitment to strategic growth and our ability to identify and capitalize on assets that leverage our growing network,” said Eric Slifka, Global’s President and Chief Executive Officer.

The new terminals are a key fit in Global’s network. Linden, NJ and Woodbury, NJ open new markets while New Haven, CT adds gasoline capabilities to Global’s terminal portfolio in Connecticut, and the Chelsea, MA terminal allows Global to continue to serve the Boston market as it replaces the capabilities of its Revere terminal, which Global strategically divested for $150 million in 2022.

Slifka continued, “We are happy to finalize 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.”

Global purchased the four terminals for $212.3 million.

About Global Partners LP

Building on a legacy that began more than 90 years ago, Global Partners has evolved into a Fortune 500 company and industry-leading integrated owner, supplier, and operator of liquid energy terminals, fueling locations, and guest-focused retail experiences. 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, providing the fuels people need to keep them on the go at their unique guest-focused convenience destinations. Recognized as one of Fortune’s Most Admired Companies, Global Partners is embracing progress and diversifying to meet the needs of the energy transition.