Global Partners Adds to Western Massachusetts Footprint
WALTHAM, Mass. — Global Partners LP added 22 convenience stores in the Pittsfield, Mass., and Springfield, Mass., markets, branded under the Convenience Plus banner, from O’Connell Oil Associates Inc. Terms of the transaction were not disclosed.
According to the Berkshire Eagle, the exact location of the 22 stores was unavailable as of April 14, and O’Connell CEO Michael Sobon could not be reached for comment. The news outlet did state the c-stores sell fuel under the Mobil and Shell banners.
“The addition of these locations complements our strategy to cost-efficiently broaden our retail footprint in attractive markets,” Eric Slifka, president and CEO of Global Partners, said in a statement.
As CSNews Online reported on Dec. 29, Pittsfield-based O’Connell previously sold three other Massachusetts convenience stores to Big Y Foods Inc.
Waltham-based master limited partnership (MLP) Global Partners LP has been aggressively making acquisitions in the c-store market, the biggest of which were 147 stores in acquired from Warren Equities Inc. for $387 million in early 2015.
As of Dec. 31, the MLP had 844 owned or leased c-stores. However, Slifka announced on Feb. 29 it would look to sell 125 of these locations.