GROWMARK Inc. of Bloomington, Ill., has acquired the Canton, S.D., propane terminal from Magellan Pipeline Co. LP, which it said will bolster its access to propane, expand its propane storage capacity and enhance its ability to provide a reliable supply of propane to its members and customers. Terms of the transaction were not disclosed.
The Canton facility provides storage capacity of more than 300,000 gal. and the capability to fill two semi-truck tanks simultaneously. The terminal is adjacent to a railroad, and GROWMARK plans to upgrade the facility with rail receiving capability.
Kevin Carroll, GROWMARK vice president, energy and logistics, said the acquisition provides a strategic opportunity for both the wholesale and retail propane businesses.
"Our retail division, STAR Energy, recently acquired Siouxland Propane, expanding our footprint into the South Dakota geography. This terminal will support the expanded footprint and enhance our supply for other areas of our system. It's a strategic move that strengthens our presence in this geography," he said.