Praxair Acquires Blue Rhino Assets in Canada
Praxair Distribution, a division of Praxair Canada Inc., has acquired the Canadian propane tank-exchange business of Blue Rhino, a Ferrellgas Partners L.P. (NYSE: FGP) company.
Under the agreement, Praxair acquired over 900 propane tank-exchange display cages at retail locations across Canada. In addition, it will take over the contract to supply more than 300 retail gasoline stations belonging to Shell Canada Products with 20-pound propane tanks for their exchange program. In conjunction with this transaction, Praxair also signed a distributor agreement with Superior Tank Incorporated. Superior Tank will serve Praxair's propane tank-exchange customers in the Atlantic Provinces.
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