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Global Partners Completes Acquisition of Jiffy Mart From INDUSTRY NEWS MERGERS & ACQUISITIONS FUELS DATA SPONSORED CONTENT EVENTS Beverages Foodservice General Merchandise Services Snacks & Candy Tobacco Mergers, Acquisition & Growth >> Mergers & Acquisitions News Global Partners Completes Acquisition of Jiffy Mart From Greg Linde Champlain Oil Also closes on purchase of Vermont company’s retail fuel assets July 18, 2018 WALTHAM, Mass. -- Global Partners LP has completed the acquisition of the retail fuel and convenience-store assets of Champlain Oil Co. Inc. and its Coco Mart Inc. c-store operating company. The transaction includes 37 company-operated gas stations with Jiffy Mart-branded c-stores in Vermont and New Hampshire and about 24 fuel sites that are either owned or leased, including lessee dealer and commission agent locations. Global Partners is No. 33 in CSP’s 2018 Top 202 ranking of c-store chains by number of company-owned retail outlets. Champlain Oil's Jiffy Mart ranked at No. 178. The deal also includes term fuel-supply agreements for about 65 gas stations, primarily in Vermont and New Hampshire. The 126 stations primarily market major fuel brands such as Mobil, Shell, CITGO, Sunoco and Irving. The purchase price, excluding inventory, was about $134 million, subject to post-closing adjustments. “The completion of this transaction expands our retail portfolio and geographic footprint in New England and provides additional volume to our strategically located terminals in New York and Vermont,” said Eric Slifka, Global Partners president and CEO. “We are excited to add the well-established Jiffy Mart brand and co- branding arrangements to our business and to further benefit from economies of scale in the purchase of fuel and convenience-store merchandise. We look forward to building upon these premier assets and welcome our new associates to the Global team.” Founded in 1949 by C. Douglas Cairns, Champlain Oil, based in Burlington, Vt., is one of the largest petroleum wholesale distribution and retail convenience marketers in the Northeast. In 1990, the company acquired the Jiffy Mart brand along with 13 company-operated locations from Jiffy Mart Inc. Matrix Capital Markets Group Inc., Richmond, Va., provided merger and acquisition advisory services to Champlain Oil. “The Cairns family and its talented management team built one of the most respected and successful independent petroleum marketing and convenience retailing companies in the industry,” said Matrix Managing Director Spencer Cavalier. Global Partners is a midstream logistics and marketing master limited partnership (MLP) that owns, controls or has access to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast. With about 1,500 locations, primarily in the Northeast, the Waltham, Mass.-based company is one of the largest regional independent owners, suppliers and operators of gas stations and c-stores. Related Content Global Partners Acquires 10 C-Stores From Cheshire Oil Global Partners to Acquire Champlain Oil’s Jiffy Mart C-Store Assets Related Topics: M&A Recommended by CSP Optimizing Your CSP Takes You How Dripless E15 Sales Resume as 3 Key Elemen Store's WiFi Through Chicago's Nozzles Can Protect Proponents Push for Influence Cus Amazon Go Your Profits & Brand Year-Round Access Experience p Top Stories CORPORATE NEWS FUELS TECHNOLOGY & EQUIPMENT CSP Takes You Through How Dripless Nozzles Chicago's Amazon Go Protect Your Profits & Inside the company's 4th 'just walk out' Brand store. An innovative new nozzle series ha engineered to solve this problem. FUELS NEWS FUELS ANALYSIS E15 Sales Resume as 3 Key Elements That Proponents Push for Influence Customer Year-Round Access Experience Growth Energy, RFA highlight demand CSP-GasBuddy survey reveals c-st destruction for ethanol ons and turnoffs SNACKS & CANDY FUELS NEWS Fastest-Growing Potato- TACenergy Acquires Chip Brands in C-Stores Desert Fuels Frito-Lay varieties remain on top Fuel marketer aims to grow sales in Southwest Subscribe Now! Get CSP in your inbox Email Address Go Resources Top Convenience Stores Category Management State of the Industry CSP’s annual list of the largest chains in the Handbook Will c-store sales and profit streaks convenience-store industry. overcome the forces of change? Category sales performance in Beverages, Candy, General Merchandise, Packaged Food/Foodservice and Snacks. Rumors Convenience Store Grand Openings The hottest scuttlebutt, rumors and fun in Products Peek inside new convenience stores to the convenience-store industry. uncover the best in retail store design across The latest information on products and North America. trends in the convenience-store and foodservice industries. Trending stories CATEGORY NEWS CATEGORY NEWS Finiti Distribution Deal Will Ferrell's Son Draws 7-Eleven Holiday Coffee Cup Design CATEGORY NEWS CATEGORY NEWS CARRE Foundation Shines Spotlight Hershey CFO to Retire in Spring Hershey CFO to Retire in Spring 2019 on Multiple System Atrophy 2019 Since 2003 CSP magazine has ranked No. 1 in readership and market share over all VIEW CSP MAGAZINE DIGITAL other industry publications. C-store marketers have identified CSP as the EDITION preferred magazine source for their trade marketing communications. With VIEW CSP MAGAZINE ARCHIVES industry-leading, highly targeted circulation to more than 100,000 subscribers, CSP reaches the key convenience retailing decision-makers fifteen times a year. Copyright © Winsight, LLC. 2018 About CSP Magazine About C-Store Products Contact Us Privacy Policy Advertise CSP Editorial Staff Subscribe.
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