Global Partners recently completed its $212.3 million acquisition of four liquid energy terminals from Gulf Oil Limited Partnership.
The terminals in Chelsea, Massachusetts; New Haven, Connecticut; Linden, New Jersey; and Woodbury, New Jersey boast a combined shell capacity of approximately 3 million barrels, expanding Global’s ability to store and distribute gasoline, distillates, and ethanol, the company said.
“This acquisition further delivers on our commitment to strategic growth and our ability to identify and capitalize on assets that leverage our growing network,” Eric Slifka, Global president and CEO, said in a news release.
The new terminals are a good fit in Global’s network, the company added. Linden and Woodbury open new Northeast markets, New Haven adds gasoline capabilities to Global’s terminal portfolio in Connecticut, and the Chelsea terminal allows Global to continue to serve the Boston market as it replaces the capabilities of its Revere terminal, which Global divested for $150 million in 2022.
“We are happy to finalize this acquisition and welcome these terminals into our growing network,” Slifka said. “These assets will strengthen our existing operations and provide us with new opportunities to serve our customers and enhance our competitive advantage.”