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.