Florida Public Utilities Buys Glades Gas Propane Assets

On Monday, Chesapeake Utilities 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.

The article Florida Public Utilities Buys Glades Gas Propane Assets originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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