AmeriGas acquires Penn Fuel assets
Nov 1, 2008 12:00 PM
AmeriGas Partners L.P. announced that its operating partnership has acquired the assets of Penn Fuel Propane LLC from an affiliate. Penn Fuel delivered approximately 15 million gallons of propane annually to 33,000 customers primarily in eastern Pennsylvania and Maryland.
Gene Bissell, chief executive officer of AmeriGas, said, “Our purchase of the assets of Penn Fuel enhances our ability to serve propane customers in Pennsylvania and Maryland. We are especially pleased to welcome a new group of employees to the AmeriGas family, and we are committed to maintaining the same high level of service to their customers. This is the fifth acquisition we have completed since October last year, adding a total of approximately 20 million gallons annually.”
AmeriGas Partners is the nation's largest retail propane marketer, serving nearly 1.3 million customers from more than 600 distribution locations in 46 states. UGI Corporation, through subsidiaries, owns 44% of the partnership and individual unitholders own the remaining 56%.
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