Ferrellgas Expands Footprint in Southern California With Acquisition of Valley Center Propane
March 15 2017 - 7:00AM
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.
About Ferrellgas
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.
Jack Herrold, Investor Relations – jackherrold@ferrellgas.com, 913-661-1851
Jim Saladin, Media Relations – jimsaladin@ferrellgas.com, 913-661-1833
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