NEW YORK -- John A. Catsimatidis, chairman and CEO of Red Apple Group, has announced that it has arranged the acquisition of the wholesale petroleum business of PPL EnergyPlus Retail LLC. It will conduct business under the name United Energy Plus Terminals LLC (UEPT).
UEPT joins the family of energy companies owned by Red Apple Group and Catsimatidis, including United Refining Co., Warren, Pa.; United Refining Energy Corp., New York; United Metro Energy Corp., United Biofuels Inc. of Brooklyn, N.Y.; and United Riverhead Terminals Inc., Riverhead, Long Island, N.Y.
Together, these affiliated companies have more than $6 billion of sales annually.
UEPT is a full-service wholesale petroleum supplier/marketer in the Mid-Atlantic Region. The business supplies petroleum products from 20 through-put terminal locations to customers located in Pennsylvania, New Jersey, New York, Maryland, Delaware, Washington, D.C., West Virginia and Virginia.
"This acquisition will allow us to bridge our wholesale customers' relationships between Pennsylvania-based United Refining Co., New York-based United Metro Energy Corp., and Long Island, N.Y.-based United Riverhead Terminal Inc., which has five million barrels of petroleum storage available."
The new company is retaining all of the employees
"Our affiliation with John Catsimatidis will allow us to take advantage of our management team's more than 100 years of combined experience in this business," said Jerry Aunet, general manager of UEPT. "The company provides a platform for the changing energy market in the Mid-Atlantic. We will continue to serve our existing customers, and with our new affiliation we will be able to expand our supplier, terminal, and rack agreements to better serve our growing wholesale and contract customer base."
United Refining operates the Kwik Fill/Red Apple Food Marts gas-station and convenience-store chain that consists of 292 company-owned locations and nine independently owned and operated franchise locations in New York, Pennsylvania and Ohio.
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