Ferrellgas Acquires El Paso-Based Flores Gas
OVERLAND PARK, Kan., Oct. 31, 2012 /PRNewswire/ — Ferrellgas Partners, L.P. (NYSE: FGP), one of the nation’s largest propane retailers, announced today the acquisition of Flores Gas of El Paso, Texas. The transaction will be immediately accretive to unit holders adding to the partnership’s existing customer base and strengthening the partnership’s already strong presence in The Lone Star State. Specific terms of the transaction were not disclosed.
“Flores Gas is a family-owned business that has a nearly 20-year history of providing the best propane service in and around El Paso,” says President and Chief Executive Officer Steve Wambold. “It has grown during that time to become one of the largest and most respected propane retailers in the area. We’re thrilled to welcome this outstanding business, its employees, and its customers to the Ferrellgas family.”
Flores Propane is Ferrellgas’ second acquisition in its fiscal year that began August 1, 2012. Ferrellgas has completed approximately 235 acquisitions during its 73-year history, a strategy that has grown the company from a single-location, independently owned propane retailer to a publicly traded company that is now one of the largest propane companies in the country.
Ferrellgas Partners, L.P., 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 nearly 22 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: Scott Brockelmeyer, Media Relations, 913-661-1830 Tom Colvin, Investor Relations, 913-661-1530
SOURCE Ferrellgas Partners, L.P.