Retail Supplier Enters Agreement To Acquire 19,000 RCEs, Option For 41,000 More; Discloses Purchase Price

Spark Energy announced that it has entered into a letter agreement with National Gas & Electric, LLC for the acquisition of approximately 19,000 RCEs with an option to acquire an additional 41,000 RCEs.

Spark Energy said that it will pay approximately $2.2 million in cash, subject to working capital adjustments.

Spark Energy said that the transaction, which was reviewed and approved by a special committee of the board of directors, will also increase the number of states the company serves to nineteen.

In a 10-K, Spark Energy said that, "Customer growth is a key driver of our operations. Our customer growth strategy includes acquiring customers through acquisitions as well as organically,"

"We expect an emphasis on growth through acquisition to continue in 2017," Spark Energy said.