OVERLAND PARK, Kan.,
March 25, 2013 /PRNewswire/ --
Ferrellgas Partners, L.P. (NYSE:FGP), one of the nation's largest
distributors of propane, announced today the acquisition of Mr.
Bar-B-Q, a leading provider of high-quality barbeque tools,
accessories and parts, headquartered in Old Bethpage, New York. The acquisition will
be immediately accretive. Terms were not disclosed.
Ferrellgas' portable tank exchange operation, nationally branded
under the name Blue Rhino, already puts the company top-of-mind
among the nation's backyard grilling enthusiasts. Through Blue
Rhino's Global Sourcing arm, the partnership is also a top provider
of barbeque grills and outdoor living products through some of the
nation's leading retail outlets.
Ferrellgas President and Chief Executive Officer Steve Wambold pointed out, "Mr. Bar-B-Q is the
perfect complement to Blue Rhino's number-one brand of propane tank
exchange and its wide assortment of outdoor living products.
"Moreover, Mr. Bar-B-Q has long prided itself in offering
'everything for the grill.' As we marry the Mr. Bar-B-Q brand with
Blue Rhino, consumers will be able to exchange for our tanks at the
front of the store and then find our propane-powered products and
barbecue accessories elsewhere in that same store. It's a
tremendous opportunity for us and our retail partners. Although Mr.
Bar-B-Q doesn't represent our typical acquisition, it clearly meets
our strict criteria. Its diverse product offerings fit quite neatly
into our portfolio, and will add to our earnings at once. We're
thrilled to welcome the company and its employees to the Ferrellgas
family."
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:
Tom Colvin, Investor Relations,
(913) 661-1530
Scott Brockelmeyer, Media Relations,
(913) 661-1830
SOURCE Ferrellgas Partners, L.P.