TORONTO — Superior Plus Corp. announced it has closed the previously announced acquisition of the assets of a retail propane distribution company based in South Carolina, Freeman Gas and Electric Co., Inc. The purchase price was paid with cash on hand.
"I am excited to welcome the Freeman employees and customers to the Superior Plus Propane family,” said Luc Desjardins, Superior’s president and CEO. “We’re looking forward to expanding our footprint in the Southeast United States and growing our business in this attractive market.”
Based on results of the first quarter and the expected contribution from Freeman for the remainder of the year, Superior is updating the 2021 Adjusted EBITDA guidance of $370 million to $410 million to a range of $380 million to $420 million, which increases the midpoint from $390 million to $400 million.
