Boardwalk Pipelines LP (BWP), an energy infrastructure company, on Monday said it has entered into an agreement to acquire Spire Marketing Inc., a gas marketing business unit, from Spire Inc. (SR) for $215 million in cash.
The transaction is expected to close in the third fiscal quarter of 2026.
The acquisition is expected to expand Boardwalk's presence across the natural gas value chain and enhance its marketing capabilities and customer reach.
Separately, Spire said the sale will help sharpen its focus on regulated utility operations and improve its risk profile.
The company said the proceeds will be used to partially fund its acquisition of the Piedmont Natural Gas Tennessee business and for general corporate purposes.
In the pre-market trading, Spire is 4.03% higher at $94.30 on the New York Stock Exchange.
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