INDIANAPOLIS, Feb. 28, 2014 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet" or the "Partnership") a leading independent producer of specialty hydrocarbon and fuel products, today announced that it acquired United Petroleum Company ("United"), a wholesale supplier and distributor of premium motor oils, coolants and greases. Financial terms of the transaction were not disclosed.
Privately-held United owns Quantum®, one of the fastest growing lubricants brands in the industry. Founded in 2011, United currently sells more than 160 Quantum-branded products through more than 50 distributors with sales in 35 states nationally. Through its Quantum brand, United sells products into the passenger car, heavy duty truck, farming and industrial end-markets through its distribution partners. The Quantum brand has become one of the most recognized new lubricants brands in recent years, supported by one of the most respected sales and marketing organizations in the lubricants industry.
"The Quantum brand is one of the fastest growing lubricants brands in the industry," stated Jennifer Straumins, President and COO of Calumet Specialty Products Partners. "The team at United has brought together a highly effective sales and marketing organization that we intend to leverage as we seek to further increase our addressable markets, while growing our customer base."
"This acquisition will allow us to further diversify our portfolio of multi-tiered branded lubricants," stated Bryan Yourdon, Vice President of Calumet's Branded and Packaged products group. "The Quantum brand will join the Royal Purple and Bel-Ray lubricants brands to provide our global customer base with a unique, fully-integrated product offering. We are excited to welcome the employees of United to the Calumet family."
About Calumet Specialty Products Partners, L.P.
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is a master limited partnership and is a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil and other feedstocks into customized lubricating oils, solvents and waxes used in consumer, industrial and automotive products. Calumet also produces fuel products including gasoline, diesel and jet fuel. Calumet is based in Indianapolis, Indiana and has twelve facilities located in northwest Louisiana, northwest Wisconsin, northern Montana, western Pennsylvania, Texas and eastern Missouri and New Jersey.
Safe Harbor Statement
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SOURCE Calumet Specialty Products Partners, L.P.