OVERLAND PARK, Kan., May 5, 2014 (GLOBE NEWSWIRE) -- 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 firstname.lastname@example.org or (816) 792-6879 Scott Brockelmeyer, Media Relations email@example.com or (913) 661-1830
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV