LIBERTY, Mo., Dec. 13, 2018 (GLOBE NEWSWIRE) — Ferrellgas Partners, L.P. (NYSE:FGP) (“Ferrellgas” or the “Company”) today announced the acquisition of Co-Op Butane, Inc., an independent propane retailer based in Bush, Louisiana. 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.
Founded in 1987 by Keith Fitzmorris and Reubin Miley, Co-Op Butane has grown over the past 30 years to become one of the leading small businesses in St. Tammany and Washington parishes in eastern Louisiana.
“Co-Op Butane has long been a company known for its commitment to providing exceptional propane service,” said James E. Ferrell, Interim Chief Executive Officer and President. “We look forward to welcoming their employees and customers into the Ferrellgas family.”
In its nearly 80 years in business, Ferrellgas has acquired approximately 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.
About Ferrellgas
Ferrellgas Partners, L.P., through its operating partnership, Ferrellgas, L.P., and subsidiaries, serves propane customers in all 50 states, the District of Columbia, and Puerto Rico. Ferrellgas employees indirectly own 22.8 million common units of the partnership, through an employee stock ownership plan. Ferrellgas Partners, L.P. filed a Form 10-K with the Securities and Exchange Commission on September 27, 2018. Investors can request a hard copy of this filing free of charge and obtain more information about the partnership online at www.ferrellgas.com.
Forward Looking Statements
Statements in this release concerning expectations for the future are forward-looking statements. A variety of known and unknown risks, uncertainties and other factors could cause results, performance, and expectations to differ materially from anticipated results, performance, and expectations. These risks, uncertainties, and other factors include those discussed in the Form 10-K of Ferrellgas Partners, L.P., Ferrellgas Partners Finance Corp., Ferrellgas, L.P., and Ferrellgas Finance Corp. for the fiscal year ended July 31, 2018, and in other documents filed from time to time by these entities with the Securities and Exchange Commission.
Contacts
Bill Ruisinger, Interim Chief Financial Officer – [email protected], 816-792-7914
Ferrellgas Partners, L.P.
