Global Partners Acquires Tidewater Convenience

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Global($NYSE:GLP) Partners Acquires Tidewater Convenience Global Partners said Wednesday it acquired Tidewater Convenience, further expanding its retail footprint in the mid-Atlantic region in the U.S. Terms were not disclosed. Global Partners already has a significant presence in the Northeast, and this move will help solidify its position in the region. The acquisition is just the latest in a string of moves Global Partners has made in recent years to expand its retail footprint. Global Partners is one of the largest convenience store operators in the United States, and the acquisition of Tidewater will only help to solidify its position.

Price History

On Wednesday, Global Partners LP announced that it had acquired Tidewater Convenience. This news was generally well-received, and GLOBAL PARTNERS LP’s stock opened at $28.6. However, it closed at $27.8, down 1.3% from the previous day’s close of $28.2. Overall, the market seems to be positive about the acquisition, but there is some concern about the future.

VI Analysis

A company’s fundamentals can give insights into its long term potential. The VI app analyzes a company’s financial data to generate a “VI Star Chart” which shows a company’s strengths in different areas. GLOBAL PARTNERS LP is classified as a “cheetah” company, meaning it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. High growth companies are deemed more volatile as they attempt to grow faster.

Despite being a high growth company, GLOBAL PARTNERS LP has an intermediate health score of 6/10 with regard to its cashflows and debt. This indicates that the company might be able to pay off debt and fund future operations.

Summary

The purchase price was not disclosed. This acquisition is in line with Global Partners’ strategy of growing its convenience store business. The acquisition of Tidewater Convenience Stores is expected to be immediately accretive to Global Partners’ earnings.

Global Partners is a leading publicly traded master limited partnership with a diversified portfolio of midstream and downstream energy assets. The company’s convenience store business is a key growth driver, and the acquisition of Tidewater Convenience Stores will help Global Partners further expand its footprint in this important business segment.