Superior Plus acquires propane distribution assets of Phelps Sungas

March 27, 2019 By    

Superior Plus Corp. acquired the propane distribution assets of Phelps Sungas, an independent propane distributor in upstate New York serving residential and commercial customers.

“The acquisition of the propane distribution assets of Phelps [Sungas] will be Superior’s first tuck-in acquisition in 2019 and demonstrates our continued commitment to grow our footprint in the Northeast [United States],” says Luc Desjardins, president and CEO of Superior Plus.

Phelps Sungas is an independent propane marketer, operating in the state of New York since 1939. The acquisition is anticipated to add about 8,600 residential and commercial customers and 8.5 million gallons of retail propane and distillate sales to Superior Plus’ energy distribution operations in the United States and strategically grow its footprint in New York, the company explains.

“Phelps [Sungas] is an established, well-run business with a strong track record of serving customers in upstate New York,” says Andy Peyton, president of U.S. propane distribution for Superior Plus. “This transaction reaffirms our focus to leverage opportunities within our current service footprint.”

The acquisition is anticipated to close during the second quarter of 2019,  according to the company.

This is Superior Plus’ second propane distribution acquisition in New York state in the past six months. The company also acquired the propane distribution assets of Porco Energy in southeastern New York in September 2018.

*Featured image: iStock.com/designer491

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