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OVERLAND PARK, Kan.,
Oct. 20, 2011 /PRNewswire/ -- Ferrellgas Partners, L.P. (NYSE: FGP) today announced the acquisition of Federal Petroleum Company, an independent propane retailer with locations in Weslasco and
Brownsville, Texas. The acquisition opens new market areas for Ferrellgas and marks the partnership's second acquisition of its young fiscal year, which began
August 1, 2011. Terms of the deal were not disclosed.
"The addition of Federal Petroleum provides us with a strategic entry into the
Brownsville market, a vital hub for the transport of goods heading to and from
Mexico," President and Chief Executive Officer
Steve Wambold says. "In addition to a strong residential base, this acquisition also gives us the opportunity to service an attractive commercial market, which is a particular strength for Ferrellgas. We look forward to continuing Federal's long tradition of excellent service to the residents and businesses throughout the area."
This most recent purchase adds to the approximately 230 acquisitions the company has completed in its more than 70-year history. During that time, Ferrellgas has grown 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. is a Fortune 1000 company and, through its operating partnership, Ferrellgas, L.P., serves approximately one million customers in all 50 states, the
District of Columbia, and
Puerto Rico. Ferrellgas employees indirectly own more than 20 million common units of the partnership through an employee stock ownership plan. More information about the company can be found at
Jim Saladin at 913-661-1833 or
firstname.lastname@example.orgTom Colvin at 913-661-1530 or
SOURCE Ferrellgas Partners, L.P.