CPK - Chesapeake Utilities expands its footprint into the Carolinas with propane assets acquisition

Chesapeake Utilities Corporation's (NYSE:CPK) propane subsidiary, Sharp Energy, acquired the propane operating assets of Diversified Energy Company (OTCQX:DECPF). The commercial terms were not disclosed. Through this acquisition, the Company grows its operating footprint into North Carolina and South Carolina. The deal is expected to be accretive to Chesapeake Utilities' (CPK) 2022 earnings, adding ~$11.3 million in gross margin for 2022.

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Chesapeake Utilities expands its footprint into the Carolinas with propane assets acquisition