Global Partners Announces Acquisition of Retail Fuel and Convenience Store Assets from Honey Farms, Inc.

WALTHAM, Mass.–(BUSINESS WIRE)–Global
Partners LP (NYSE: GLP) announced today that it has acquired retail
fuel and convenience store assets from Honey Farms, Inc. in a cash
transaction. The acquisition includes 11 company-operated retail sites
with fuel and convenience stores and 22 stand-alone c-stores. All of the
sites are located in the greater Worcester, Massachusetts area. The
purchase price was approximately $36 million.

“This transaction aligns with our objective of acquiring sites that
expand our footprint and enable us to benefit from economies of scale in
the purchase of fuel and convenience store merchandise,” said Global
Partners President and CEO Eric Slifka.

About Global Partners LP
Global Partners is a midstream
logistics and marketing master limited partnership 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 gasoline
stations and convenience stores. Global is also 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 also engaged in the transportation of
petroleum products and renewable fuels by rail from the mid-continental
U.S. and Canada. For additional information, visit www.globalp.com.

Forward-looking Statements
Certain statements and
information in this press release may constitute “forward-looking
statements.” The words “believe,” “expect,” “anticipate,” “plan,”
“intend,” “foresee,” “should,” “would,” “could” or other similar
expressions are intended to identify forward-looking statements, which
are generally not historical in nature. These forward-looking statements
are based on Global Partners’ current expectations and beliefs
concerning future developments and their potential effect on the
Partnership. While management believes that these forward-looking
statements are reasonable as and when made, there can be no assurance
that future developments affecting the Partnership will be those that it
anticipates. All comments concerning the Partnership’s expectations for
future revenues and operating results are based on forecasts for its
existing operations and do not include the potential impact of any
future acquisitions. Forward-looking statements involve significant
risks and uncertainties (some of which are beyond the Partnership’s
control) and assumptions that could cause actual results to differ
materially from the Partnership’s historical experience and present
expectations or projections.

For additional information regarding known material factors that could
cause actual results to differ from the Partnership’s projected results,
please see Global Partners’ filings with the SEC, including its Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports
on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date hereof. The Partnership
undertakes no obligation to publicly update or revise any
forward-looking statements after the date they are made, whether as a
result of new information, future events or otherwise.

Contacts

Global Partners LP
Daphne H. Foster, 781-894-8800
Chief
Financial Officer
or
Edward J. Faneuil, 781-894-8800
Executive
Vice President, General Counsel and Secretary