Superior Plus Corp. is pleased to announce that one of its wholly-owned subsidiaries has entered into an agreement to acquire the assets of a retail propane distribution company based in Michigan, operating under the tradename, “Hopkins Propane” (“Hopkins”). The transaction is expected to close in the fourth quarter of 2021 and is subject to customary closing conditions.
“The acquisition of Hopkins is our seventh acquisition announced in 2021 and advances our Superior Way Forward growth strategy initiative of executing on accretive acquisitions where we already have a presence,” said Luc Desjardins, Superior’s President and CEO. “Michigan is estimated to be one of the largest retail propane markets in the U.S., and we look forward to growing our customer base in this attractive market. We are excited to welcome the Hopkins team and customers to Superior.”
Hopkins has been in business for over 50 years in the Grand Rapids, Michigan area, delivering approximately ~5 million gallons of propane annually to over 7,000 residential and commercial customers. Based on statistics from LP Gas Magazine, Michigan is the largest propane market by state with sales volumes of 587 million gallons in 2019.