Global Partners LP (NYSE: GLP) has completed the previously announced acquisition of Alliance Energy LLC, a gasoline distributor and operator of gasoline stations and convenience stores. In consideration, Global Partners issued 5,850,000 limited partner units and assumed long-term debt, subject to post-closing adjustments, of approximately $180 million.
Alliance’s portfolio includes approximately 540 gasoline stations in New England, New York, New Jersey and Pennsylvania. Alliance owns or has long-term leases on approximately 253 sites and has supply contracts for the remaining stations.
In conjunction with the closing, Alliance President Andrew Slifka has joined Global Partners as President of the Partnership’s service station, C-store and related supply division. In addition, he will become a member of the Board of Directors of Global GP LLC in the second quarter of 2012.
About Global Partners LP
Global Partners LP, a publicly traded master limited partnership based in Waltham, Massachusetts, owns, controls or has access to one of the largest terminal networks of refined petroleum products and renewable fuels in the Northeast. The Partnership is one of the largest wholesale distributors of gasoline (including blendstocks such as ethanol and naphtha), distillates (such as home heating oil, diesel and kerosene), residual oil and renewable fuels to wholesalers, retailers and commercial customers in the New England states and New York. In addition, the Partnership has a portfolio of approximately 800 gas stations in nine Northeastern states and is a distributor of natural gas and crude oil. A FORTUNE 500(R) company, Global Partners trades on the New York Stock Exchange under the ticker symbol "GLP." For additional information, please visit
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