OVERLAND PARK, Kan., March 15, 2017 (GLOBE NEWSWIRE) -- Ferrellgas Partners, L.P. (NYSE:FGP) today announced the acquisition of Valley Center Propane, an independent propane retailer based in Valley Center, California. The transaction is expected to be immediately accretive and is further evidence of the partnership’s longstanding commitment to growing its core propane business through strategic acquisitions. Terms of the transaction were not disclosed.
“California has long been successful market for Ferrellgas,” said Interim Chief Executive Officer and President Jim Ferrell. “Our purchase of Valley Center Propane further solidifies our presence in the state and helps us improve upon the service we offer to homes and businesses in north San Diego County. We are thrilled to welcome this well-respected business, its employees, and customers into the Ferrellgas family.”
During its more than 75-year history, Ferrellgas has completed more than 235 acquisitions – moves that have helped it grow from a single-location, independently owned propane retailer to a publicly traded company that is one of the largest propane retailers in the United States.
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 22.8 million common units of the partnership, through an employee stock ownership plan. Ferrellgas Partners, L.P. filed a Form 10-K with the Securities and Exchange Commission on September 28, 2016. Investors can request a hard copy of this filing free of charge and obtain more information about the partnership online at www.ferrellgas.com.
Source:Ferrellgas Partners, L.P.