- CEO
- Eric S. Slifka
- Full Time Employees
- 3,300
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- Address
- 800 South Street Waltham MA United States of America 02454-9161
- IPO Date
- Mar 23, 2021
- Business
- Global Partners LP (NYSE: GLP-PB) operates as a leading independent owner, supplier, and operator of liquid energy terminals, fueling locations, and retail experiences, engaging in the purchasing, selling, gathering, blending, storing, and logistics of transporting refined petroleum products including gasoline and gasoline blendstocks, distillates such as diesel and kerosene, residual oil, renewable fuels, crude oil, home heating oil, propane, and bunker fuel; the company also provides convenience store merchandise, prepared foods, car wash services, lottery, and ATM services through its retail operations. It conducts business through five integrated segments—Wholesale, Gasoline Distribution and Station Operations (GDSO), Commercial, Terminals, and Real Estate Ventures—serving wholesalers, retailers, gasoline station operators, sub-jobbers, public sector entities, commercial and industrial end-users across 18 states from Maine to Florida and into the Gulf states including Texas, with a network of 55 owned terminals offering approximately 18.3 million barrels of shell storage capacity and transportation via railcars, barges, trucks, and pipelines. Founded in 1933 by Abraham Slifka in Waltham, Massachusetts, where it maintains headquarters at 800 South Street, Global Partners LP has expanded through strategic acquisitions, including 25 refined product terminals from Motiva Enterprises in December 2023 for $305 million supported by a 25-year take-or-pay contract, four terminals from Gulf Oil in the first quarter of 2024, and a 959,730-barrel liquid energy terminal in East Providence, Rhode Island from ExxonMobil in November 2024; these moves have diversified its asset base, boosted EBITDA, enhanced cash flow stability with take-or-pay elements, and supported deleveraging efforts projected below 4.0x in 2025. The company continues to emphasize low-carbon solutions such as biodiesel and ethanol, retail innovation with Alltown and Alltown Fresh brands, and real estate optimization at seaports and retail sites amid a shift toward midstream assets and reduced retail exposure.