Sprague Resources to Acquire Hess' Commercial Fuels Business; Terms Not Disclosed

prague Resources LP

("Sprague") announced today it has signed an agreement to acquire the Commercial Fuels business of Hess Corporation

outside of the New York City service area.  The Commercial Fuels business is one of the largest marketers of refined products on the East Coast of the United States, serving commercial, industrial and government accounts through both former Hess terminal locations and third-party facilities.  The transaction is expected to be finalized prior to the end of the year. "This acquisition will significantly increase our existing commercial fuels business and expand our geographic footprint along the East Coast," said David Glendon, CEO of Sprague Resources. "The fact that Hess approached us to service their accounts following the sale of their terminals business reflects Sprague's reputation in the industry for providing superior customer service and reliable delivery. We look forward to extending these services to the Hess Commercial Fuels customer base and ensuring seamless service provision to these accounts."