Global Partners has signed an agreement with Exxon Mobil to purchase 190 Mobil branded retail gas stations in Massachusetts, Rhode Island and New Hampshire.
The agreement includes the right to supply Mobil branded fuel to the stations as well as to an additional 31 Mobil stations owned and operated by independent dealers in those same states.
Out of the 221 stations, 179 are located in Massachusetts, 22 in Rhode Island and 20 in New Hampshire. All the stations will continue to operate under the Mobil brand as part of a branding agreement between Exxon Mobil and Global Partners.
Out of the 190 stations being acquired by Global Partners, 42 are company operated and 148 are dealer operated. Subject to approval of its independent directors, the partnership intends to negotiate a contract for the management of the company-operated stations and the dealer relationships with Alliance Energy.
Eric Slifka, president and CEO of Alliance Energy, said: “The purchase of these best-in-class assets achieves two important objectives for Global: expanding the transportation fuels component of our business and extending our presence in wholesale supply. These Mobil sites are highly visible with high traffic counts, and situated on virtually non-replicable, prime locations.
“We believe that the strategic value of this transaction comes from the significant new stream of income we expect to generate by supplying these 221 locations in New England with gasoline and diesel fuel through our supply and terminaling system. This transaction offers efficiencies and opportunities within our existing gasoline and diesel fuel wholesale supply business.”