Superior Plus completes acquisition of Freeman Gas

On April 22, 2021, Superior Plus Corp. (“Superior”) announced that one of its wholly-owned subsidiaries entered into an agreement to acquire the assets of a retail propane distribution company based in South Carolina, operating under the tradename Freeman Gas and Electric Co., Inc. (“Freeman”),  for an aggregate purchase price of approximately US$170 million (C$213 million).

The acquisition leverages Superior’s existing expertise, integrated platform and operational effectiveness into a new customer base, building on its U.S. propane distribution footprint and scale in North Carolina, South Carolina, Georgia and Tennessee.

Closing of the acquisition was announced on June 30, 2021. The purchase price was settled with cash on hand.

Further information can be found on Business Wire’s website.

Founded in 1936, Freeman is an established independent family-owned and operated retail propane distributor servicing approximately 67,000 residential and commercial customers primarily in North Carolina, South Carolina and Georgia. It has 23 retail branch offices and 38 bulk plants, approximately 7 million gallons of storage capacity, a fleet of 224 vehicles and approximately 275 employees.

Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada.