SUUIF - Superior Plus: NGL Propane Acquisition Will Provide A Long Runway Of Growth
Investment Thesis
Superior Plus Corp. (SUUIF) [SPB] completed its acquisition of NGL Propane on July 10, 2018. The acquisition will increase its footprint to 22 states in the United States. NGL Propane's presence will provide a platform for Superior Plus to grow in the highly fragmented propane market in the country where more than 4000 smaller players hold 73% of the market. The acquisition will also improve Superior Plus’ gross margin as propane sales have higher margin than distillates.
Who is NGL Propane?
NGL Propane is a company that sells propane and distillates