Superior Plus Announces Acquisition of the Propane Distribution Assets of Musco Fuel & Propane LLP

Source Press Release
Company Superior Plus Corp 
Tags Asset Deals, Deals, Pipelines/ tankers/ distribution, Refining & Marketing Activities
Date October 18, 2018

Superior Plus Corp. (“Superior”) (TSX:SPB) is pleased to announce it has entered into an agreement to acquire substantially all of the propane distribution assets of Musco Fuel & Propane LLP (“Musco”), an independent propane distributor in Connecticut serving residential and commercial customers (the “Acquisition”). The Acquisition is anticipated to close during the fourth quarter of 2018, subject to the satisfaction of certain customary commercial conditions.

Musco is an established independent propane marketer which has operated in the state of Connecticut for more than 25 years. The Acquisition is anticipated to add approximately 4,200 residential and commercial customers and 2.5 million gallons (9.5 million litres) of retail propane and distillate sales to Superior’s Energy Distribution operations in the U.S. and allows Superior to strategically grow its footprint in Connecticut.

“The acquisition of the propane distribution assets of Musco will be Superior’s sixth tuck-in acquisition in 2018 and demonstrates our continued commitment to grow our footprint in the Northeast U.S.” said Luc Desjardins, Superior’s President and CEO.

“Musco is an established, well-run business with a strong track record of serving customers in Western Connecticut” said Andy Peyton, President of Superior’s U.S. Propane Distribution business. “This transaction reaffirms our focus to leverage opportunities within our current service footprint.”

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd