Florida Public Utilities Buys Glades Gas Propane Assets

On Monday, Chesapeake Utilities (NYSE: CPK  ) subsidiary Florida Public Utilities announced that its subsidiary, Flo-Gas, has just purchased the propane operating assets of family owned and operated Glades Gas.

With Glades comes a customer list of approximately 3,000 residential and commercial accounts in Okeechobee, Glades and Hendry counties in Florida. Going forward, all these customers will be buying their gas from the Florida Public Utilities brand name.

Financial details of the acquisition were not disclosed. Nevertheless, investors seemed to like the news. Chesapeake Utilities shares closed Monday trading up 1.6% at $47.81.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2251332, ~/Articles/ArticleHandler.aspx, 4/21/2014 6:31:05 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement