Suburban Propane history

Revenues reached $47.1 million in 1960.

Anton retired in 1963 and was succeeded as chief executive officer of Suburban Propane Gas by his son, Mark J. Anton.

Suburban Propane Gas was, in 1965, the world's largest independent retail distributor of liquid petroleum gases, marketing more than ten percent of this product in the United States.

The purchase in 1967 of additional properties in Crockett County, Texas, brought the number of its Frio-Tex natural-gas wells to 175.

Suburban's anchor gas distribution business was now operating in 28 states. Its revenues reached a record $96.6 million, and net income a record $5.5 million, in fiscal 1970 (the year ended September 30, 1970).

The company, which disposed of the propane tank plant about the beginning of the decade, also again began producing gas cooking ranges, but only for recreational vehicles, in 1971.

In fiscal 1981 sales reached a record $850.9 million.

In January 1983, however, Suburban was purchased by National Distillers and Chemical Corporation for about $275 million.

National Distillers and Chemical Corporation changed its name to Quantum Chemical Corporation in 1987.

In 1988 Suburban sold all its interests in oil and gas wells, gas processing plants, and contract drilling.

The partnership's long-term debt at the end of 1995 (adjusted to reflect the initial public offering) was $425 million.

Millennium sold its share in the partnership--now 26.4 percent--for $75 million in May 1999 to Suburban Energy Services Group LLC, a new entity owned by senior management of the partnership.