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Lindstedt Oil Company in New Milford, part of the CH Energy Group, is being sold to Superior Plus,
The sale is to a Canadian energy company, Superior Plus Corp.
, based in Calgary, Alberta. The sale is valued at $76 million and
includes Griffith holdings in Pennsylvania, Rhode Island and
Connecticut, including in-state divisions in New Milford, Cornwall,
Torrington, Winsted and Seymour through its Sasco Energy Services
division. The deal was consummated as the result of a year-long review
by CH Energy Group of its holdings and investments. Concerned with high
oil prices on its company portfolio, CH Energy decided to sell the
Griffith division holdings, according to a company press release.
The sale is subject to regulatory approval in the United States and
Canada but is expected to close in December, according to Superior's
Web site. If the acquisition is approved, Superior plans to
combine Griffith Energy Services management team with its current team
to operate the overall business, according to Superior.
A spokesman for the parent company, CH Energy Group of Poughkeepsie,
N.Y., said the sale should not affect customers or employees of
Lindstedt. “The sale does not include any sort of change to their
operations or services," said company spokesman John Maserjian. "We're
not seeing any changes to the way these companies (sold) are operating
as part of the sale. We don't see any changes for their employees or
their customers."
Lindstedt Oil Company was founded in 1935 by Carl Lindstedt and was
located on Bridge Street. It was run by his two sons, Fred and Randal
(Bee) Lindstedt and featured service stations and wholesale, retail and
lubricant sales. First sold in the late 1990s by the
Lindstedt family after more than 60 years' family ownership to Sasco
Energy,
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