Ferrellgas Partners, L.P. Announces Acquisition of Wylie LP Gas, Inc.

Source Press Release
Company Ferrellgas Partners, L.P. 
Tags Corporate Deals, Deals, Refining & Marketing Activities
Date November 01, 2018

Ferrellgas Partners, L.P. (NYSE:FGP) (“Ferrellgas” or the “Company”) today announced the acquisition of Wylie LP Gas, Inc., a third party Blue Rhino distributor headquartered in Lubbock, Texas. The transaction is expected to be immediately accretive. Terms of the deal were not disclosed.

A long-time independent Blue Rhino distributor, Wylie delivers propane cylinders to retailers in northwest Texas and south-central New Mexico. This acquisition is further indication of the Company’s commitment to growing its core propane business. This purchase gives Ferrellgas the opportunity to better serve its tank-exchange customers throughout the region while improving operational efficiencies and lowering production expenses.

“This is another important step forward for Ferrellgas and Blue Rhino as we seek to provide the best service possible to our retail tank exchange customers,” said Ferrellgas President and Interim Chief Executive Officer Jim Ferrell. “As Blue Rhino continues to expand its customer base, we will likewise continue to identify new and improved ways to efficiently and effectively expand our capabilities to meet demand.”

In nearly 80 years of business, Ferrellgas has acquired more than 250 independent retail companies. This acquisition follows recent purchases of third-party Blue Rhino distribution companies Salathe Propane of Harvey, Louisiana; North Star Exchange of Walton, Indiana; and Tapper Propane Equipment of Decatur, Michigan.

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