M&A Deal Summary

Global Partners Acquires Wheels of CT - Retail Fuel & Convenience Stores

On January 27, 2022, Global Partners acquired retailer Wheels of CT - Retail Fuel & Convenience Stores from Wheels of CT

Acquisition Highlights
  • This is Global Partners’ 2nd transaction in the Retail sector.
  • This is Global Partners’ 3rd transaction in the United States.
  • This is Global Partners’ 1st transaction in Connecticut.

M&A Deal Summary
Date 2022-01-27
Target Wheels of CT - Retail Fuel & Convenience Stores
Sector Retail
Buyer(s) Global Partners
Sellers(s) Wheels of CT
Deal Type Divestiture

Target

Wheels of CT - Retail Fuel & Convenience Stores

Milford, Connecticut, United States
Wheels of CT include 26 company-operated “Wheels” branded convenience stores in Connecticut, as well as fuel supply agreements with 22 sites in Connecticut and New York.

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Buyer(S) 1

Buyer

Global Partners

Waltham, Massachusetts, United States
Category Company
Founded 2005
Sector Energy Services and Equipment
Employees3,485
Revenue 16.5B USD (2023)
DESCRIPTION

Global Partners 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 Partnersl was founded in 2005 and is based in Waltham, Massachusetts.

DEAL STATS #
Overall 3 of 4
Sector (Retail) 2 of 3
Type (Divestiture) 2 of 2
State (Connecticut) 1 of 1
Country (United States) 3 of 4
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-30 Cheshire Oil - Convenience Stores and Gas Stations

Keene, New Hampshire, United States

Cheshire Oil Co. LLC - Convenience Stores and Gas Stations includes nine stores in New Hampshire and one in Brattleboro, Vermont. All of the locations are branded T-Bird Mini Marts and market Citgo fuel.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-21 Tidewater Convenience

Virginia Beach, Virginia, United States

Tidewater Convenience is a retail company. Tidewater Convenience was founded in 1992 and is based in Virginia Beach, Virginia.

Buy -

Seller(S) 1

SELLER

Wheels of CT

Milford, Connecticut, United States
Category Company
Founded 1936
Sector Retail
DESCRIPTION

Wheels of CT operates a network of premium convenience stores throughout Connecticut. Wheels are building state-of-the-art facilities that better meet the needs of the consumer by offering clean, spacious floor plans, expanded fueling capacities, and providing a broader selection of fresh foods and merchandise. Wheels of CT was established in 1936 and is based in Milford, Connecticut.

DEAL STATS #
Overall 1 of 1
Sector (Retail) 1 of 1
Type (Divestiture) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
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