Global Partners LP completes acquisition of four liquid energy terminals from Gulf Oil Limited Partnership to expand its market presence in the Northeast
Apr 09, 2024•over 1 year ago
Acquiring Company
Global Partners
Acquired Company
Gulf Oil Company
Description
Global Partners LP (NYSE: GLP) has successfully acquired four liquid energy terminals from Gulf Oil Limited Partnership. These strategically located terminals in Chelsea, MA, New Haven, CT, Linden, NJ, and Woodbury, NJ, with a combined shell capacity of approximately 3.0 million barrels, will enhance Global’s position in the energy economy of the Northeast. This acquisition aligns with Global’s strategy to leverage scale from its integrated network in high-demand markets, further delivering on their commitment to strategic growth.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed