Superior Plus Completes Acquisition of Rymes Propane and Oil

On September 1, 2020, Superior Plus Corp. ("Superior") completed the previously announced acquisition of the assets of Rymes Propane and Oil ("Rymes") for an aggregate purchase price of approximately US$159 million before adjustments for working capital. The amount of the purchase price due on closing was paid with cash from Superior's credit facility.

The acquisition includes all Rymes' operations except its business in Martha's Vineyard, Massachusetts.

Superior consists of three primary operating businesses: Canadian Propane Distribution and U.S. Propane Distribution, which include the distribution of propane and distillates, and supply portfolio management; and Specialty Chemicals, which includes the production and sale of specialty chemicals.

Rymes is retail propane and heating oil distribution company based in New Hampshire.

Further information can be found on Business Wire's website here and here.