Dover, DE – Chesapeake Utilities Corporation (NYSE: CPK) announced today that its propane subsidiary, Sharp Energy, has acquired Western Natural Gas Company in Jacksonville, Florida. The parties closed on this transaction on October 26, 2020. Terms of the transaction were not publicly disclosed.
“This is an important acquisition for our Company as it enables Sharp Energy to immediately expand the availability of its propane operations into Florida and build upon our existing propane footprint,” said Jeff Householder, President and Chief Executive Officer of Chesapeake Utilities Corporation. “Sharp Energy continues to expand and generate strong performance for our Company. They are an industry leader, providing community gas systems, wholesale capabilities and propane AutoGas to customers throughout the Mid-Atlantic region. Acquiring Western Natural Gas will assist us in meeting customer demand and expanding our propane distribution foundation in Florida.”
Western Natural Gas has been providing propane service to the First Coast of Florida for more than 80 years. Western Natural Gas provides propane service to approximately 4,000 residential and commercial customers and sells approximately one million gallons of propane throughout four counties in northeast Florida.
“As a family owned and operated business in northeast Florida for over 80 years, the decision to sell was not easy, but it was very clear that Sharp Energy is a company that best replicated our way of doing business with an appreciation for our customers and our employees,” said Ken Baker, Executive Vice President of Western Natural Gas Company. “We are confident that Sharp Energy will continue our tradition of safety first, unmatched service and dependability.”
About Sharp Energy
Sharp Energy, headquartered in Georgetown, Delaware, distributes propane gas to approximately 65,000 residential, commercial and industrial customers in Maryland, Delaware, Virginia, Pennsylvania and Florida. With four rail facilities and over three million gallons of propane gas storage, Sharp Energy has established a solid supply portfolio. Sharp Energy is a proud partner of Alliance AutoGas, a national network of companies that have joined together to deliver a comprehensive alternative fueling solution including EPA-certified propane AutoGas vehicle conversions, on-site fueling infrastructure, fuel supply, safety and operational training, and ongoing technical support. To learn more about Sharp Energy, visit www.sharpenergy.com.
About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy delivery company, listed on the New York Stock Exchange, which is engaged in natural gas transmission and distribution; electricity generation and distribution; propane gas distribution; mobile compressed natural gas (CNG) utility services and solutions; and other businesses. Information about Chesapeake Utilities Corporation’s businesses is available at www.chpk.com, through the Company’s Investor Relations App and on the Annual Report Microsite at cpkannualreport.com.
Please note that Chesapeake Utilities Corporation is not affiliated with Chesapeake Energy, an oil and natural gas exploration company headquartered in Oklahoma City, Oklahoma.
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