In addition, Inergy announced the recent acquisitions of Rice Oil, located in Greenfield, Massachusetts, and Capitol Propane, located near Columbus, Ohio. The combined operations serve over 30,000 customers from eight new retail locations in the Northeast US.
Upon completion of these transactions, Inergy expects to have invested approximately $53 million in capital and expects full-year earnings before interest, taxes, depreciation, and amortization (EBITDA) from these operations to be approximately $8 million.
John Sherman, president and CEO of Inergy, said: These three transactions meet our criteria of acquiring good businesses in good markets and complement our footprint in the Northeast.
