Ferrellgas Partners, L.P. Announces Acquisition of Reliable Propane

Source Press Release
Company Ferrellgas Partners, L.P. 
Tags Corporate Deals, Deals, Refining & Marketing Activities
Date March 01, 2019

Ferrellgas Partners, L.P. (NYSE:FGP) (“Ferrellgas” or the “Company”) today announced the acquisition of Reliable Propane, a third-party Blue Rhino distributor based in Sikeston, Missouri. The transaction is expected to be immediately accretive and is further evidence of the partnership’s longstanding commitment to growing its core propane business. Terms of the transaction were not disclosed.

Reliable Propane is a long-time independent distributor for Blue Rhino, delivering propane cylinders to retail partners in the Midwest and south from locations in Springfield, Missouri; Starkville, Mississippi; Olive Branch, Mississippi; and Benton, Arkansas. The acquisition is further evidence of the company’s commitment to both growing its tank exchange segment and identifying ways to improve operational efficiencies and lower production and delivery expenses. Ferrellgas previously announced the acquisitions of American Propane in Oklahoma City, Oklahoma, in January 2019; Co-Op Butane of Bush, Louisiana, in December 2018; Wylie LP Gas of Lubbock, Texas, in November 2018; and Salathe Gas of Harvey, Louisiana, and North Star Exchange of Walton, Indiana, in October 2018.

“We’re pleased today to fold yet another longtime third-party Blue Rhino distributor into our operations,” said James E. Ferrell, Interim Chief Executive Officer and President. “The efficiencies we are gaining as a result of these moves will continue to benefit our industry-leading tank exchange business.”

In its nearly 80 years in business, Ferrellgas has acquired nearly 300 independent retail companies – moves that have helped the company 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.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd