Global Partners Completes Acquisition of Retail Portfolio from Capitol Petroleum Group

WALTHAM, Mass.--(BUSINESS WIRE)--

Global Partners LP GLP today announced that it has completed the acquisition of a portfolio of 97 primarily Mobil- and Exxon-branded owned or leased retail gas stations and seven dealer supply contracts from Capitol Petroleum Group. The acquisition includes 51 retail locations and seven dealer supply accounts in New York City and 46 retail locations in the Maryland/Washington, D.C. market.

The purchase price, subject to closing adjustments, was approximately $156 million. The Partnership expects the acquisition to be accretive in the first full year of operations.

"The Capitol portfolio increases our penetration in two important East Coast markets," said Eric Slifka, the Partnership's President and Chief Executive Officer. "Completing this transaction strengthens our growing Gasoline Distribution and Station Operations business and further integrates our midstream and downstream assets."

About Global Partners LP

A publicly traded master limited partnership, Global is a midstream logistics and marketing company that owns, controls or has access to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast. Global also is one of the largest distributors of gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers in New England and New York. The Partnership is a leader in the transportation of crude oil and other products by rail across its "virtual pipeline" from the mid-continental U.S. and Canada to the East and West Coasts for distribution to refiners and others. With approximately 1,600 locations, primarily in the Northeast, Global also is one of the largest independent owners, suppliers and operators of gasoline stations and convenience stores. Global is No. 146 in the Fortune 500 list of America's largest corporations. For additional information, visit www.globalp.com.

Forward-Looking Statements

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Although Global Partners LP believes these forward-looking statements are reasonable as and when made, there may be events in the future that Global Partners LP is not able to predict accurately or control, and there can be no assurance that future developments affecting Global Partners LP's business will be those that it anticipates.

For additional information about risks and uncertainties that could cause actual results to differ materially from the expectations Global Partners LP describes in its forward-looking statements, please refer to Global Partners LP's Annual Report on Form 10-K and subsequent filings the Partnership makes with the Securities and Exchange Commission.

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