UGI Corp., King of Prussia, acquired the liquefied petroleum gas distribution business of Shell Gas Hungary, its second European LPG acquisition in two months.
Terms were not disclosed.
Shell's Hungarian operation distributed 27 million gallons last year, and will be managed by UGI's Flaga GmbH subsidiary, which distributes more than 70 million gallons of LPG annually in Austria, Switzerland, and five Eastern European countries.
The acquisition comes after UGI in August announced it was buying BP's 9.5-million-gallon LPG business in Denmark. - Andrew Maykuth