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Florida Public Utilities Acquires The Propane Operating Assets Of Glades Gas Company

Stocks in this article: CPK

WEST PALM BEACH, Fla., Feb. 11, 2013 /PRNewswire/ -- Florida Public Utilities Company (FPU), a subsidiary of Chesapeake Utilities Corporation (NYSE: CPK), today announced that its propane subsidiary, Flo-Gas Corporation, has purchased the propane operating assets of Glades Gas Company. 

Glades Gas has been a family-owned and operated business for eighty years, providing propane service to approximately 3,000 residential and commercial accounts in Okeechobee, Glades and Hendry Counties.  Current owners, Monica Clark and Kevin McCarthy, will be working closely with Florida Public Utilities in transitioning the propane operating assets from Glades Gas.  

Monica Clark commented "Glades Gas has always had a good relationship with Florida Public Utilities and this acquisition will be good for our customers and the growth of the area.  I have a lot of respect for FPU and what they've done in the state of Florida.  I couldn't have asked for a better company to continue the relationship Glades Gas has had with the cities of Okeechobee and Clewiston and to promote the growth of these areas."

The acquisition allows FPU's Flo-Gas operation to expand its propane presence within Florida.  At the conclusion of the transition, the former Glades Gas propane operation will market and sell propane under the Florida Public Utilities Company brand. 

"We are pleased to have been able to make this acquisition.  Glades Gas has been a well run family business with a strong tradition of care and support for their customers and the communities they serve.  FPU looks forward to continuing that tradition and to investing resources in the growth of the Okeechobee and Clewiston areas," stated Kevin Webber, Vice President of FPU.

Florida Public Utilities Company (NYSE: CPK) is a wholly owned subsidiary of Chesapeake Utilities Corporation. Headquartered in West Palm Beach, Florida, FPU ( www.fpuc.com) distributes natural gas, propane and electric services to approximately 100,000 customers in markets throughout Florida. 

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified utility company engaged in natural gas distribution, transmission and marketing, electric distribution, propane distribution and wholesale marketing, advanced information services and other related businesses. Information about Chesapeake Utilities Corporation and the Chesapeake family of businesses is available at www.chpk.com.

For more information, contact: Bonnie Erdek, Contracts & Community Administrator, 561-838-1766

SOURCE Florida Public Utilities Company

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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