Global Partners Will Acquire Wheels Convenience Stores
WALTHAM, Mass. — Global Partners LP has signed an agreement to purchase the retail fuel and convenience store assets of Consumers Petroleum of Connecticut Inc.
The deal includes 27 company-operated gas stations with Wheels-branded convenience stores in Connecticut, as well as fuel supply agreements for approximately 25 gas stations in Connecticut and New York. The stations market fuel under the CITGO and Sunoco brands.
"Building on our history of successful strategic acquisitions, the pending purchase of Wheels is an excellent fit for Global, and expands our retail business in Connecticut," said Global Partners President and CEO Eric Slifka. "The team at Consumers Petroleum has built an impressive brand, with locations along high-traffic routes throughout Connecticut. We are excited about adding these facilities to our portfolio and expect the transaction to be accretive within the first full year of operations."