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Superior Plus to acquire Phelps Sungas propane distribution assets

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Superior Plus to acquire Phelps Sungas propane distribution assets

Canada-based Superior Plus Corp. said March 26 that it agreed to buy all propane distribution assets of Phelps Sungas Inc. and BMK of Geneva Inc. for an undisclosed amount.

The transaction, expected to close in the second quarter subject to customary closing conditions, will add 8.5 million gallons of retail propane and distillate sales to Superior's energy distribution operations in the U.S. along with 8,600 residential and commercial customers. It will also allow the company to "strategically" grow its footprint in New York.

Phelps is an independent propane distributor in upstate New York that serves residential and commercial customers.