Ferrellgas Partners, L.P. (NYSE:FGP), one of the nation’s largest propane retailers, announced today the acquisition of propane operations in a fast-growing south-central U.S. market, adding nearly 5,000 customers to the partnership’s existing customer base.
The acquisition will strengthen the partnership’s presence in a key market and it is anticipated that it will be immediately accretive to earnings. Specific terms of the transaction were not disclosed.
“We are very pleased to announce this latest acquisition as it supports our continued focus on disciplined growth through acquisition, complimenting our well-established organic growth initiatives,” explained Ryan VanWinkle, Senior Vice President and Chief Financial Officer. He also pointed out, “We look forward to our new employees becoming valuable members of the Ferrellgas team and providing industry leading service to our customers.”
Ferrellgas Partners, L.P. is a Fortune 1000 company and, through its operating partnership, Ferrellgas, L.P., serves approximately one million customers in all 50 states, the District of Columbia, and Puerto Rico. Ferrellgas employees indirectly own more than 20 million common units of the partnership through an Employee Stock Ownership Plan. More information about the company can be found online at www.ferrellgas.com.