Global Partner buys 97 gas stations in New York City, Maryland, Washington, D.C.Staff writer ▼ | June 3, 2015
Global Partner has completed the acquisition of a portfolio of 97 primarily Mobil- and Exxon-branded owned or leased retail gas stations and seven dealer supply contracts from Capitol Petroleum Group.
Acquisition $156 million for gas stations
The purchase price, subject to closing adjustments, was approximately $156 million. The Partnership expects the acquisition to be accretive in the first full year of operations.
“The Capitol portfolio increases our penetration in two important East Coast markets,” said Eric Slifka, the Partnership’s President and Chief Executive Officer.
“Completing this transaction strengthens our growing Gasoline Distribution and Station Operations business and further integrates our midstream and downstream assets.” ■