National Distillers agreed to buy Pargas.
National Distillers & Chemical said it will acquire the propane gas distributor from Reliance Group Holdings. Terms of the acquisition were not disclosed. Pargas distributes propane gas in 21 states, mainly in the Northeast, Southeast, West Coast and Gulf Coast regions. Reliance Group is a New York-based investment firm headed by financier Saul P. Steinberg.
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