Superior Plus Corp. Announces Annual and Fourth Quarter 2020 Results and 2021 Adjusted EBITDA Guidance as a Pure-play Energy Distribution Company : vimarsana.com
Business Development and Acquisition Update On October 15, 2020, Superior acquired all of the equity interests of a Southern California propane distribution company, operating under the tradename, Central Coast Propane (“Central Coast”), for total consideration of approximately US$12.9 million (CDN $17.1 million). The purchase price was paid primarily with cash from Superior’s credit facility. Central Coast is a retail distributor delivering approximately 5.0 million litres of propane to approximately 2,800 residential and commercial customers in Southern California. On October 27, 2020, Superior acquired the assets of a retail propane distribution company, operating under the tradename, Petro SE Propane (“Southern Propane and Mountain Gas”), for total consideration of approximately US$6.1 million (CDN $8.0 million). The purchase price was paid primarily with cash from Superior’s credit facility. Petro is a retail distributor delivering propane in North Carolina, South Carolina, Georgia and Tennessee.