Global Partners LP

What does Global Partners own?
Global Partners owns 54 liquid energy terminals, approximately 1,500 owned, leased, or supplied gasoline stations, and nearly 300 company-operated convenience stores under banners including Alltown, Honey Farms, and Jiffy Mart.

Is Global Partners a corporation or a partnership?
Global Partners is a master limited partnership listed on the NYSE under ticker GLP. Investors buy units rather than shares, and the Slifka family controls the business through the general partner, Global GP LLC.

When was Global Partners founded?
Abraham Slifka founded the business in Boston in 1933 as a fuel oil distributor. The master limited partnership was formed in 2005, when it also completed its initial public offering.

Who owns Alltown and Honey Farms stores?
Both banners are owned and operated by Global Partners LP. Alltown is the company's flagship Northeast convenience store brand, while Honey Farms is a Worcester-area heritage banner that now also covers rebranded stores in Houston.

What is Spring Partners Retail?
Spring Partners Retail LLC is a joint venture between Global Partners and ExxonMobil formed in 2023. It owns 64 former Timewise convenience and fueling locations in the Houston area, which Global operates under the Honey Farms banner.

How does Global Partners make money?
The partnership earns margin at three levels: wholesale fuel distribution and terminal fees, retail fuel and merchandise sales at its own stations, and commercial bulk fuel sales. Because revenue swings with fuel prices, investors track EBITDA and distributable cash flow.

Abraham Slifka founded the business in Boston in 1933 as a small fuel oil distributor serving homes and businesses. The Slifka family built the company gradually over the following decades, expanding from heating oil delivery into gasoline distribution and terminal operations. Abraham's son Alfred grew the wholesale side, and the third generation, Eric Slifka, joined in the 1980s and now leads the partnership as President and CEO.

Global expanded aggressively in the 2000s and 2010s through terminal and retail acquisitions. In 2005, the company formed Global Partners LP as a master limited partnership and completed its initial public offering on the New York Stock Exchange, giving it access to public capital markets while the family retained control through the general partner.

A series of transformative deals followed. In 2012, Global acquired Alliance Energy for approximately $555 million, adding a large gasoline station and convenience store network in New York and New Jersey. In 2013, it bought the Cascade Kelly rail loading facility in Oregon, giving it a crude-by-rail link between mid-continent production and West Coast markets. In late 2015, the partnership acquired Gulf Oil Limited Partnership for approximately $212 million, securing the historic Gulf brand rights in New England and a terminal network.

Retail consolidation continued in 2017 when Global acquired 33 Honey Farms convenience store locations in the Worcester, Massachusetts area for approximately $36 million. The company built its proprietary Alltown banner across company-operated sites and launched the upscale Alltown Fresh food-forward concept in 2019.

The largest moves came in 2023. In April, Global formed Spring Partners Retail LLC, a joint venture with ExxonMobil, which acquired 64 Timewise convenience and fueling locations in the Houston area. Global operates those stores and rebranded them under the Honey Farms banner in 2024. In December 2023, Global completed its acquisition of 25 liquid energy terminals from Motiva Enterprises for $313.2 million, a deal underpinned by a 25-year take-or-pay throughput agreement with Motiva that nearly doubled the partnership's terminal storage capacity and extended its footprint into the Gulf States.

Through 2025 and 2026 the partnership focused on integration and organic investment: remodeling stores, expanding foodservice in the Alltown Fresh format, and optimizing a portfolio that generated $383 million of adjusted EBITDA in 2025.

Global handles both conventional fuels and renewable fuels, and it markets biodiesel and renewable diesel blending through its terminal network. The partnership has invested in renewable fuel logistics and positions its storage and rail assets as transition-ready infrastructure.

The company reports on safety and environmental compliance through its annual disclosures. Its convenience operations have expanded fresh food programs through Alltown Fresh, which emphasizes locally sourced and organic items, a modest but real shift away from traditional gas station fare.

Terminal and fuel businesses carry inherent environmental exposure, and Global's facilities are subject to federal and state environmental regulation, spill response obligations, and remediation liabilities typical of legacy petroleum sites. The partnership maintains environmental reserves for known conditions.

Beyond routine compliance, no major partnership-specific regulatory action or public controversy is on record as of November 2026.