LIBERTY, Mo., Sept. 05, 2017 (GLOBE NEWSWIRE) -- Ferrellgas Partners, L.P. (NYSE:FGP) today announced the acquisition of Service Plus Propane, Inc., an independent propane retailer based in South Hill, Virginia. The transition is expected to be immediately accretive and allows the partnership to strategically grow its footprint in the eastern region of the country. Terms of the transaction were not disclosed.
Founded in 2005, Service Plus is a local provider that offers agricultural, residential, industrial, and commercial propane services to customers in Mecklenburg and surrounding counties in southern Virginia.
“Service Plus is a well-run business focused on local service and support,” said Ferrellgas President and Interim Chief Executive Officer Jim Ferrell. “As we welcome new and existing customers to the Ferrellgas family, emphasis on personal relationships and exceptional service will remain a priority. We plan to continue doing business as neighbors and are committed to growing to meet the needs of our customers.”
In more than 75 years as a propane provider, Ferrellgas has made nearly 240 acquisitions in an effort to expand strategically and better serve its customers nationwide.
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.