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."

The purchase is expected to close in the first half of 2021, subject to regulatory approvals and customary closing conditions.

"We are very proud of what we have accomplished and the business we have grown over three generations," said Richard Wiehl, chairman of Consumers Petroleum/Wheels of CT Inc. "We are excited to see how Global will continue to grow and improve the Wheels assets and feel that we are leaving the company in good hands."

With approximately 1,550 locations primarily in the Northeast, Waltham-based Global Partners is one of the region's largest independent owners, suppliers and operators of gasoline stations and convenience stores. It also owns, controls or has access to one of the largest terminal networks in New England and New York, through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers.