PORTSMOUTH, N.H., Oct. 03, 2017 (GLOBE NEWSWIRE) -- Sprague Resources LP (“Sprague”) (NYSE:SRLP) announced today that its wholly owned subsidiary, Sprague Operating Resources LLC, completed the purchase of the membership interests of Coen Energy, LLC and Coen Transport, LLC, as well as assets consisting of four bulk plants and underlying real estate (collectively, “Coen Energy”).
“I’m excited to announce that we have completed our fifth acquisition of the year. Coen Energy expands our footprint in Pennsylvania, Ohio and West Virginia, while also expanding our business model to provide energy products and complimentary field services to over 7,000 customers,” said David Glendon, Sprague’s President and CEO. “Coen has established a strong reputation for their service levels and safety record and I’m pleased to welcome our new employees to the Sprague family as we build on the Coen Energy legacy.”
About Sprague Resources LP
Sprague Resources LP is engaged in the purchase, storage, distribution and sale of refined petroleum products and natural gas. The company also provides storage and handling services for a broad range of materials. More information concerning Sprague can be found at www.spragueenergy.com.
About Coen Oil Company, LLC
Founded in 1923, Coen Oil Company, LLC is the parent company of Coen Energy, Coen Transport as well as Coen Markets, a leading convenience store chain in the PA, OH, WV tri-state area, and Coen Tire, a leading tire retailer in that same region. More information can be found at coenoil.com.
Source: Sprague Resources LP