Red Apple Group Adds to Its Family of Energy Companies
NEW YORK — Red Apple Group is acquiring the wholesale petroleum business of PPL EnergyPlus Retail LLC. Once the deal is completed, the business will be conducted under the name United Energy Plus Terminals LLC (UEPT).
UEPT joins the family of energy companies owned by Red Apple Group and its chairman and CEO, John Catsimatidis. The companies include United Refining Co. of Warren, Pa.; United Refining Energy Corp. of New York; United Metro Energy Corp. and United Biofuels Inc. of Brooklyn, N.Y., and United Riverhead Terminals Inc. of Riverhead, N.Y.
Together, these affiliated companies have more than $6 billion of sales annually.
UEPT will be a full-service wholesale petroleum supplier/marketer in the Mid-Atlantic region. The business will supply petroleum products from 20 throughput 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 5 million barrels of petroleum storage available," Catsimatidis said.
All former PPL EnergyPlus Retail employees are being retained.
"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. The company provides a platform for the changing energy market in the Mid-Atlantic," said Jerry Aunet, general manager of UEPT. "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."
Red Apple's United Refining distributes fuel to its Country Fair, Red Apple Food Marts and Kwik Fill gas stations and convenience stores in New York, Pennsylvania and Ohio.