OVERLAND PARK, Kan., July 1, 2014 (GLOBE NEWSWIRE) -- Ferrellgas Partners, L.P. (NYSE:FGP), one of the nation's largest distributors of propane, announced today the acquisition of Wise Choice Propane, an independently owned propane retailer with locations in Mount Vernon and Utica, Ohio. Specific terms of the transaction, which the company indicates will be immediately accretive, were not disclosed.
"We're pleased today to welcome the employees and customers of Wise Choice Propane to the Ferrellgas family," said President and Chief Executive Officer Steve Wambold. "It's a business that's a tremendous fit for us, as Wise Choice strengthens our presence in an area of the state that is experiencing strong population growth as well as economic benefits from production in and around the Utica Shale."
Wise Choice Propane is Ferrellgas' sixth retail propane acquisition in its fiscal year that began August 1, 2013. The company previously announced the acquisitions of Kaw Valley Propane of Topeka, Kan. on June 17; Viking Propane of Madison, Calif., on May 5; Country Boys Gas of Commerce, Ga., on March 27; Motor Propane Service of Manitowoc and Sheboygan, Wis., on December 23, 2013; and KanGas Corporation of Basehor, Kan., on November 25, 2013. On May 1, the company announced the establishment of a midstream division with the purchase of Sable Environmental, LLC and a related entity. Sable is a privately held, fast-growing fluid logistics provider in the Eagle Ford Shale region of south Texas.
Ferrellgas Partners, L.P., through its operating partnership Ferrellgas L.P. and subsidiaries, serves propane customers in all 50 states, the District of Columbia and Puerto Rico and provides midstream services to major energy companies in the United States. Ferrellgas employees indirectly own more than 21 million common units of the partnership through an employee stock ownership plan. More information about the partnership can be found online at www.ferrellgas.com.
CONTACT: Alan Heitmann, Investor Relations email@example.com or (816) 792-6879 Scott Brockelmeyer, Media Relations firstname.lastname@example.org or (913) 661-1830Source:Ferrellgas Partners, L.P.