Industry News

Calumet Specialty Products Partners, L.P. Closes on Acquisition of Penreco

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Calumet Specialty Products Partners, L.P. closed the acquisition of Penreco, a Texas general partnership for approximately $267 million in cash, excluding customary post-closing purchase price adjustments. Penreco was owned by ConocoPhillips Company and M.E. Zukerman Specialty Oil Corporation. Penreco, which also owned Magie Bros., manufactures and markets highly refined products and specialty solvents including white mineral oils, petrolatums, natural petroleum sulfonates, cable-filling comp...

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