Ferrellgas Acquires Viking Propane
May 05 2014 - 10:01AM
Ferrellgas Partners, L.P. (NYSE:FGP), one of the nation's largest
distributors of propane, announced today the acquisition of Viking
Propane, an independent propane company based in Madison, Calif.
Specific terms of the transaction, which the company indicates will
be immediately accretive, were not disclosed.
It is Ferrellgas' fourth retail propane acquisition in its
fiscal year that began August 1, 2013. The company previously
announced the acquisitions of 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.
"Viking Propane offers a tremendous complement to the already
strong Ferrellgas footprint in north central California, and allows
us to extend our service territory west of Sacramento," said
President and Chief Executive Officer Steve Wambold. "We look
forward to welcoming their employees to the Ferrellgas family and
to introducing our industry-leading service to our new
customers."
Ferrellgas Partners, L.P., through its operating partnership,
Ferrellgas, L.P., serves customers in all 50 states, the District
of Columbia and Puerto Rico. 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
alheitmann@ferrellgas.com or (816) 792-6879
Scott Brockelmeyer, Media Relations
scottbrockelmeyer@ferrellgas.com or (913) 661-1830
Ferrellgas Partners (NYSE:FGP)
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