ST. PAUL, MINN. (Feb. 28, 2013) ‘CHS Inc., an energy, grains and foods company and the nation’s leading farmer-owned cooperative, said today it is acquiring Phillips 66’s wholesale propane marketing business, effective April 1.
‘This strategic acquisition will increase our customer base and expand the CHS propane service area in the Northeast, Southeast and central states,” said John Duchscherer, director of propane sales and marketing for CHS, one of the nation’s largest propane wholesalers. ‘We are also gaining additional resources to help us continue providing a safe, reliable supply of propane to our customers.”
The transaction consists of customer business only and does not include physical assets; additional details were not disclosed. CHS will serve its new customers from its existing, extensive supply infrastructure, which is fed by all major pipelines in the United States.
The company’s ongoing invesment in a robust supply network reflects CHS commitment to serving customer needs and adding value for its member owners, as well as its aspiration to become the leading domestic supplier of propane, Duchscherer added.
CHS Inc. is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, grains and foods, CHS is committed to helping its customers, farmer-owners and other stakeholders grow their businesses through its domestic and global operations. CHS, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.