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Colonial Acquisition

Paraco Gas Corporation, one of the largest independent propane retailers in the Northeast, has acquired the propane operations of Colonial Oil & Gas in Tannersville and Saugerties, New York.

This acquisition represents approximately 2,500,000 gallons and includes 6,500 residential and commercial customers. These customers will be serviced out of the existing plant/office in Tannersville and Saugerties, New York.

Colonial, founded in 1932 by the Leach family, will remain an independent company and will continue to serve its customers in the heating oil, kerosene, gasoline, and on/off-road diesel fuel delivery business.

About Paraco Gas - Paraco Gas is a family owned and operated business with a long tradition of excellent service and community commitment. With over 65,000 customers throughout New York, Connecticut, Pennsylvania and Vermont, Paraco is large enough to provide the best value in products and services, yet small enough to treat each customer personally. In business since 1968, Paraco continues to expand. Paraco currently employs approximately 230 employees in 18 locations throughout Pennsylvania, New York and Connecticut.

Paraco continues to grow through acquisitions and strategic partnerships in the Northeast. The company is currently looking for expansion opportunities.

Additional information about Paraco can be accessed by calling Michael Gioffre, Vice President of Sales & Marketing at (914) 250-3770.

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