Mergers & Acquisitions

Global Partners Acquires Honey Farms

MLP picks up 33 c-stores in New England, 11 with fuel

WALTHAM, Mass. --Global Partners LP has acquired 33 convenience stores from Honey Farms Inc. The retail fuel and convenience-store assets include 11 company-operated retail sites with fuel and c-stores and 22 stand-alone c-stores. The purchase price of the cash transaction was approximately $36 million.

All of the sites are located in the Worcester, Mass., area. The Iandoli family has owned Worcester-based Honey Farm since 1969, and the family’s retail food operations of delis and supermarkets goes back to the 1920s.

Matrix Capital Markets Group Inc., Richmond, Va., provided merger and acquisition advisory services to Honey Farms, which included valuation advisory, marketing the business through a confidential, structured sale process and negotiation of the transaction.

Waltham, Mass.-based 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 approximately 1,500 locations, primarily in the Northeast, Global is one of the largest regional independent owners, suppliers and operators of gas stations and c-stores.

Watch for details on CSP Daily News.

Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Snacks & Candy

How Convenience Stores Can Improve Meat Snack, Jerky Sales

Innovation, creative retailers help spark growth in the snack segment

Technology/Services

C-Stores Headed in the Right Direction With Rewards Programs

Convenience operators are working to catch up to the success of loyalty programs in other industries

General Merchandise/HBC

How Convenience Stores Can Prepare for Summer Travel Season

Vacationers more likely to spend more for premium, unique products, Lil’ Drug Store director says

Trending

More from our partners