Ferrellgas Announces Acquisition of Gasco Energy Company
OVERLAND PARK, Kan., Dec. 18, 2015 (GLOBE NEWSWIRE) — Ferrellgas Partners, L.P. (NYSE:FGP) today announced the acquisition of Gasco Energy Supply LLC, an independent propane retailer based in Eldon, Missouri, that services residential, industrial/commercial, and agricultural accounts throughout the Ozark region. The transaction is expected to be immediately accretive and demonstrates the partnership’s ongoing commitment to growing its core propane business through acquisitions that fit its operating model.
“Like Ferrellgas, Gasco has a long history of providing excellent service to its customers, no matter what segment of the business they may fall into,” said Ferrellgas’ President and Chief Executive Officer Steve Wambold. “We look forward to building on their proud tradition and to welcoming Gasco’s employees into the Ferrellgas family.”During its more than 75-year history, Ferrellgas has completed more than 235 acquisitions – moves that have helped it 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. In 2014, the company also began aggressively pursuing a diversification strategy that has seen it begin to acquire assets in the crude oil midstream, as well – most notably last June’s $837.5 million dollar acquisition of Bridger Logistics.About FerrellgasFerrellgas 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, and provides midstream services to major energy companies in the United States. 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 29, 2015. Investors can request a hard copy of this filing free of charge and obtain more information about the partnership online at www.ferrellgas.com.Contacts
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