Paraco Gas Acquires Island Propane, Expands Long Island Base

Rye Brook, NY (May 9, 2017) — Paraco Gas announced May 1st the acquisition of Island Propane, headquartered in Ronkonkoma, N.Y. The acquisition provides family-owned and operated Paraco with a strong, customer-focused service and delivery business and complements and extends its existing footprint on Long Island. Paraco has been serving Long Island since 1985 and provides propane services to residential and commercial customers throughout the region from three locations: Bay Shore, Bohemia, and Riverhead.

“The addition of Island Propane further demonstrates our commitment to the communities in these areas, as well as the employees who will service these accounts as we move forward,” commented Joseph Armentano, CEO of Paraco Gas. “Today’s announcement is positive news for our customers and employees. We will continue to invest in resources and new technology to ensure our customers are offered the best products and service in the industry.”
Added John Armentano, vice president of acquisitions, “Our long-term relationship and the high level of trust that we have developed over the years were paramount in making this acquisition work. The acquisition of Island Propane immediately increases the capabilities of Paraco Gas on Long Island. Paraco is also pleased that the founders of Island Propane will join its team. Guy and Ariana Lucchese have owned the business for more than 20 years.”

“After much thought and discussion, we elected to sell our business to Paraco Gas due to the relationship we have with the Armentano family and the commitment they have demonstrated to their customers and employees,” said Guy Lucchese. “In addition to joining the Paraco team, we hope to spend more time enjoying our family and friends and truly experiencing all that life has to offer.” Both Island Propane and Paraco customers will be served through a joint workforce located in Bohemia, Bay Shore, and Riverhead.