Mass. company to purchase Warren Equities

PROVIDENCE – A Waltham, Mass.-based company will purchase Warren Equities, whose three divisions include the XtraMart convenience-store chain, WPRI.com reported last week.
Global Partners LP said this month it will pay about $383 million for the Providence-based firm, which has regularly made Forbes magazine’s list of the largest private companies in the U.S.
Warren Equities employs more than 2,100 people in 11 states and sells roughly 500 million gallons of fuel a year at 520 retail locations, according to the Warren Alpert Foundation and a statement about the sale.
Global Partners is a Fortune 500 company whose holdings include an Exxon/Mobil terminal location along the Wampanoag Trail in East Providence, WPRI said. The company said its Global Montello Group Corp. subsidiary is buying 100 percent of the equity interest in Warren Equities from the Alpert foundation, a nonprofit created by former owner Warren Alpert, who died in 2007.
Alpert is known locally for a $100 million gift he gave to Brown University’s medical school, which was then named for him, shortly before his death.
The transaction got a green light from federal regulators last month and is expected to close during the first quarter of next year. •