News Releases

Calumet Specialty Products Partners, L.P. Acquires United Petroleum Company
Acquisition Expands Calumet's Portfolio of Premium Branded Lubricants Solutions; Further Bolsters Sales, Marketing and Distribution Capabilities of Specialty Products business

INDIANAPOLIS, Feb. 28, 2014 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet" or the "Partnership") a leading independent producer of specialty hydrocarbon and fuel products, today announced that it acquired United Petroleum Company ("United"), a wholesale supplier and distributor of premium motor oils, coolants and greases.  Financial terms of the transaction were not disclosed.

Privately-held United owns Quantum®, one of the fastest growing lubricants brands in the industry.  Founded in 2011, United currently sells more than 160 Quantum-branded products through more than 50 distributors with sales in 35 states nationally.  Through its Quantum brand, United sells products into the passenger car, heavy duty truck, farming and industrial end-markets through its distribution partners.  The Quantum brand has become one of the most recognized new lubricants brands in recent years, supported by one of the most respected sales and marketing organizations in the lubricants industry. 

"The Quantum brand is one of the fastest growing lubricants brands in the industry," stated Jennifer Straumins, President and COO of Calumet Specialty Products Partners.  "The team at United has brought together a highly effective sales and marketing organization that we intend to leverage as we seek to further increase our addressable markets, while growing our customer base."

"This acquisition will allow us to further diversify our portfolio of multi-tiered branded lubricants," stated Bryan Yourdon, Vice President of Calumet's Branded and Packaged products group.   "The Quantum brand will join the Royal Purple and Bel-Ray lubricants brands to provide our global customer base with a unique, fully-integrated product offering.  We are excited to welcome the employees of United to the Calumet family."

About Calumet Specialty Products Partners, L.P.

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is a master limited partnership and is a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil and other feedstocks into customized lubricating oils, solvents and waxes used in consumer, industrial and automotive products. Calumet also produces fuel products including gasoline, diesel and jet fuel. Calumet is based in Indianapolis, Indiana and has twelve facilities located in northwest Louisiana, northwest Wisconsin, northern Montana, western Pennsylvania, Texas and eastern Missouri and New Jersey.

Safe Harbor Statement

Certain statements and information in this press release may constitute "forward-looking statements." The words "believe," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could" or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. All comments concerning our expectations for future sales and operating results are based on our forecasts for our existing operations and do not include the potential impact of any future acquisitions. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. Important factors that could cause actual results to differ materially from those in the forward-looking statements include: the overall demand for specialty hydrocarbon products, fuels and other refined products; our ability to produce specialty products and fuels that meet our customers' unique and precise specifications; the impact of fluctuations and rapid increases or decreases in crude oil and crack spread prices, including the resulting impact on our liquidity; the results of our hedging and other risk management activities; our ability to comply with financial covenants contained in our debt instruments; the availability of, and our ability to consummate, acquisition or combination opportunities and the impact of any completed acquisitions; labor relations; our access to capital to fund expansions, acquisitions and our working capital needs and our ability to obtain debt or equity financing on satisfactory terms; successful integration and future performance of acquired assets, businesses or third-party product supply and processing relationships; our ability to timely and effectively integrate the operations of recently acquired businesses or assets, particularly those in new geographic areas or in new lines of business; environmental liabilities or events that are not covered by an indemnity, insurance or existing reserves; maintenance of our credit ratings and ability to receive open credit lines from our suppliers; demand for various grades of crude oil and resulting changes in pricing conditions; fluctuations in refinery capacity; our ability to access sufficient crude oil supply through long-term or month-to-month evergreen contracts and on the spot market; the effects of competition; continued creditworthiness of, and performance by, counterparties; the impact of current and future laws, rulings and governmental regulations, including guidance related to the Dodd-Frank Wall Street Reform and Consumer Protection Act; shortages or cost increases of power supplies, natural gas, materials or labor; hurricane or other weather interference with business operations; our ability to access the debt and equity markets; accidents or other unscheduled shutdowns; and general economic, market or business conditions. For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with Securities and Exchange Commission ("SEC"), including our 2012 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

SOURCE Calumet Specialty Products Partners, L.P.

For further information: Noel Ryan, noel.ryan@clmt.com, 317-328-5660