Global Partners acquires 25 liquid energy terminals

Purchased for $305.8 million, the assets access a critical pipeline and marine network and significantly increase Global’s operating footprint.

Global Partners has completed its previously announced acquisition of 25 liquid energy terminals from Motiva Enterprises. The transaction is underpinned by a 25-year take-or-pay throughput agreement with Motiva, the anchor tenant at the terminals, that includes minimum annual revenue commitments.

“This acquisition nearly doubles our operating footprint, giving Global a significant position from Maine to Florida and into the Gulf Coast,” said Eric Slifka, the Partnership’s President and Chief Executive Officer.

“The addition of these terminals supports the growth of our integrated supply, storage and retail network in rapidly growing areas of the country—Florida, Georgia, Texas and the Carolinas—providing customers with gasoline, diesel and other liquid fuels essential to their daily lives,” added Slifka.

With the newly acquired locations, Global now owns or leases 49 liquid energy terminals in the United States, totaling approximately 18.3 million barrels in shell capacity. The new assets expand access to a critical network of marine loading facilities as well as the Colonial, Plantation, Enterprise, Explorer and Magellan refined product pipelines

With approximately 1,700 locations primarily in the Northeast, Global Partners is one of the region’s largest independent owners, suppliers and operators of fueling stations and convenience markets.

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