Ferrellgas Acquires Sacramento-Based Capitol City Propane
OVERLAND PARK, Kan., Sept. 4, 2012 /PRNewswire/ -- Ferrellgas Partners, L.P. (NYSE: FGP), one of the nation's largest propane retailers, announced today the acquisition of Capitol City Propane of Sacramento, California. The transaction adds to the partnership's existing customer base and strengthens the partnership's presence in The Golden State. Specific terms of the transaction were not disclosed.
"Capitol City Propane has a more than 20-year tradition of providing safe, reliable service to industrial and residential propane users in and around Sacramento," says President and Chief Executive Officer Steve Wambold. "We're thrilled to welcome this outstanding business, its employees, and its customers to the Ferrellgas family."
Capitol City Propane is Ferrellgas' first acquisition in its fiscal year that began August 1, 2012. Ferrellgas has completed approximately 235 acquisitions during its 72-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.
Scott Brockelmeyer, Media Relations, 913-661-1830
Tom Colvin, Investor Relations, 913-661-1530
SOURCE Ferrellgas Partners, L.P.