Boardwalk Pipelines (NYSE:SR) announced today that it has entered into a definitive agreement to acquire Spire Marketing from Spire.
The acquisition marks a significant strategic pivot for Boardwalk, allowing the company to move further downstream and integrate specialized marketing and optimization services with its core transportation and storage infrastructure.
The transaction is designed to broaden Boardwalk’s role across the natural gas value chain.
By incorporating Spire Marketing’s expertise, Boardwalk expects to enhance its ability to manage physical commodity flows, reach a more diverse customer base, and extract additional value from its existing interstate pipeline and storage assets.
Spire Marketing has established a strong reputation for providing wholesale natural gas services and customized energy solutions, which Boardwalk intends to scale across its larger geographic footprint.
Financial terms of the transaction were not immediately disclosed.