Just Energy Edges Lower on Acquisition of Fulcrum Retail Holdings
Just Energy Group (JE.TO) edged down by less than 1% after announcing that its wholly owned subsidiary, Just Energy (U.S.) Corp., has agreed to acquire all of the issued and outstanding membership units of Fulcrum Retail Holdings LLC, a privately held retail electricity provider operating in the State of Texas, for approximately $79.4 million.
The company believes that Fulcrum's marketing and sales approach supplements the sales channels used by Just Energy and should allow for both continued growth from existing Fulcrum products in Texas as well as cross selling opportunities for Just Energy offerings.
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