Superior Plus Corp (TSX:SPB)Energy
Superior Plus Corp is a Toronto-based energy distribution and marketing company engaged in the utilities regulated industry that deals in propane, distillates, and related products solutions.
The utility company was incorporated under the Canada Business Corporations Act in 1966.
It is a TSX-listed company with common shares trading under the symbol 'SPB'.
Superior Plus Corp operates a diversified energy distribution channel and caters to Canada and the United States.
Through its extensive network channel, Superior Plus Corp distributes and markets liquid fuels, propane products, including propane gas and heating, in the retail business sector.
The Canadian firm also caters to wholesale business customers by distributing and marketing liquid products and services.
On June 16, 2021, the Canadian company announced its successful acquisition of Freeman Gas and Electric Co., Inc, a retail propane distribution company in South Carolina. With this acquisition, the energy company aims to expand its geographic footprint in the southeast region of the United States.
Superior Plus operates under the following energy distribution segments:
Superior Propane segment: It is a retail division that distributes and sell propane, propane-based machines, and associated services to consumers in Canada, reportedly since 1951.
Superior Plus Energy Services (U.S. Propane): It sells and markets propane gas and liquid fuels, including heating oil and related services. It is also engaged in installing, maintaining, and repairing machines in California, Northeast, Atlantic, Southeast, and Midwest regions of the United States.
Superior Gas Liquids Segment: It is a supply management portfolio involved in delivering value-added services such as transport, warehousing, supply, logistics and risk balancing services. This division supports the Superior Propane segment and various small and medium-sized propane retailers and customers across North America.
On August 3, 2020, the diversified company acquired assets of Champagne Energy, a Maine-based retail distributor for C$36.4 billion in cash.
The company is focused on improving its market share through strategic acquisitions.
401, 200 Wellington Street West Toronto, Ontario M5V 3C7