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Martin Midstream Partners Acquires Redbird, Cross Packaging Assets

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October 3, 2012

Martin Midstream Partners L.P. (NYSE: MMLP) announced the closing of two separate purchase agreements with certain wholly-owned subsidiaries of Martin Resource Management Corp., the owner of Martin Midstream GP LLC.

In the first transaction, MMLP purchased certain specialty lubricant product packaging assets from Cross Oil Refining & Marketing Inc., a wholly-owned subsidiary of the parent. Total consideration for the packaging assets consisted of $121.8 million in cash, including working capital of approximately $36.8 million at closing, subject to certain post-closing adjustments. The purchase of the packaging assets was funded using ...

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