FTC OKs Final Order in Global Partners' Acquisition of Wheels C-stores

WALTHAM, Mass. — Global Partners LP has received the Federal Trade Commission's (FTC) final order related to its recent deal with Consumers Petroleum of Connecticut Inc. 

As part of the transaction, the partnership took ownership of 26 company-operated Wheels convenience stores. Fuel supply agreements with 22 sites in Connecticut and New York were also included in the agreement.

However, the FTC investigated the transaction for possible violations of federal antitrust laws.

Under the terms of the final settlement, Global and Richard Wiehl, chairman of Consumers Petroleum of Connecticut Inc., must divest to Petroleum Marketing Investment Group six Global retail fuel outlets and one Wheels retail fuel outlet, among other conditions.

Global noted the divestitures when it closed the acquisition in January.

According to the FTC, its order also mandates that both Global and the divestiture buyer, Petroleum Marketing Investment Group, obtain the commission's prior approval for certain future deals.

The mandate is "to further protect competition in the relevant markets," the FTC said.

The FTC filed its compliant against the deal in December, alleging the acquisition would have significantly increased concentration in markets for the retail sale of gasoline in Fairfield, Bethel, Milford, Wilton and Shelton, Conn. In all these local markets except Wilton, the acquisition would also have harmed competition for the retail sale of diesel fuel, according to the commission.