Global Partners acquires 64 c-stores in Houston

The retailer has formed a joint venture with ExxonMobil to purchase the sites from the Landmark Group as Spring Partners Retail.

Global Partners and ExxonMobil have signed an agreement to acquire 64 Houston-area convenience and fueling facilities from the Landmark Group. If the deal is approved, the assets would be purchased under the joint venture, Spring Partners Retail, and Global would act as the management company and operator.

Global has a track record of acquiring, integrating, optimizing, and operating assets as demonstrated by their growth and performance in the Northeast and mid-Atlantic. In 2022, the firm acquired 120 retail assets across the Northeast and mid-Atlantic, through a mix of company operated retail stores and dealer supply agreements.

This latest deal leverages the company’s relationships and operating experience to expand outside its current footprint into the Houston, Texas market. Global plans to retain and welcome existing site and above-site employees.

“This acquisition is another example of our commitment to investing in growing markets where we have strategic advantages and where we can deliver value to guests and shareholders. We’re extremely excited to expand into the Texas market. We look forward to serving our Houston area guests and communities with our signature focus on quality food and guest experience,” said Eric Slifka, CEO at Global Partners.

Global Partners operates a network of approximately 1,700 locations throughout the Northeast and mid-Atlantic. The company also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers.