Global Partners Completes Acquisition of Retail Fuel and Jiffy Mart Convenience Store Assets in Vermont and
New Hampshire from Champlain Oil Company
Global Partners LP (NYSE: GLP) today announced that it has completed the acquisition of retail fuel and convenience store assets
of Vermont-based Champlain Oil Company, Inc.
The acquisition includes 37 company-operated gas stations with Jiffy Mart-branded convenience stores in Vermont and New
Hampshire, and approximately 24 fuel sites that are either owned or leased including lessee dealer and commission agent locations.
The transaction also includes term fuel supply agreements for approximately 65 gas stations, primarily in Vermont and New
Hampshire. The 126 stations primarily market major fuel brands such as Mobil, Shell, Citgo, Sunoco and Irving.
The purchase price, excluding inventory, was approximately $134 million, subject to post-closing adjustments. The transaction is
expected to be accretive within the first full year of operations.
“The completion of this transaction expands our retail portfolio and geographic footprint in New England and provides additional
volume to our strategically located terminals in New York and Vermont,” said Eric Slifka, Global Partners President and CEO. “We
are excited to add the well-established Jiffy Mart brand and co-branding arrangements to our business and to further benefit from
economies of scale in the purchase of fuel and convenience store merchandise. We look forward to building upon these premier assets
and welcome our new associates to the Global team.”
About Global Partners LP
Global Partners is a midstream logistics and marketing master limited partnership that owns, controls or has access to one of
the largest terminal networks of petroleum products and renewable fuels in the Northeast. With approximately 1,500 locations,
primarily in the Northeast, Global is one of the largest regional independent owners, suppliers and operators of gasoline stations
and convenience stores. Global is also one of the largest distributors of gasoline, distillates, residual oil and renewable fuels
to wholesalers, retailers and commercial customers in New England and New York. The Partnership is also engaged in the
transportation of petroleum products and renewable fuels by rail from the mid-continental U.S. and Canada. For additional
information, visit www.globalp.com.
Forward-looking Statements
Certain statements and information in this press release may constitute “forward-looking statements.” The words “believe,”
“expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar expressions are intended to
identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on
Global Partners’ current expectations and beliefs concerning future developments and their potential effect on the Partnership.
While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that
future developments affecting the Partnership will be those that it anticipates. All comments concerning the Partnership’s
expectations for future revenues and operating results are based on forecasts for its existing operations and do not include the
potential impact of any future acquisitions. Forward-looking statements involve significant risks and uncertainties (some of which
are beyond the Partnership’s control) and assumptions that could cause actual results to differ materially from the Partnership’s
historical experience and present expectations or projections.
For additional information regarding known material factors that could cause actual results to differ from the Partnership’s
projected results, please see Global Partners’ filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The
Partnership undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made,
whether as a result of new information, future events or otherwise.
Global Partners LP
Daphne H. Foster, 781-894-8800
Chief Financial Officer
or
Edward J. Faneuil, 781-894-8800
Executive Vice President, General Counsel and Secretary
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