Ferrellgas Partners Announces Acquisition Of Mr. Bar-B-Q, A Leading Provider Of High-Quality Barbeque Tools
OVERLAND PARK, Kan., March 25, 2013 /PRNewswire/ -- Ferrellgas Partners, L.P. (NYSE: FGP), one of the nation's largest distributors of propane, announced today the acquisition of Mr. Bar-B-Q, a leading provider of high-quality barbeque tools, accessories and parts, headquartered in Old Bethpage, New York. The acquisition will be immediately accretive. Terms were not disclosed.
Ferrellgas' portable tank exchange operation, nationally branded under the name Blue Rhino, already puts the company top-of-mind among the nation's backyard grilling enthusiasts. Through Blue Rhino's Global Sourcing arm, the partnership is also a top provider of barbeque grills and outdoor living products through some of the nation's leading retail outlets.
Ferrellgas President and Chief Executive Officer Steve Wambold pointed out, "Mr. Bar-B-Q is the perfect complement to Blue Rhino's number-one brand of propane tank exchange and its wide assortment of outdoor living products.
"Moreover, Mr. Bar-B-Q has long prided itself in offering 'everything for the grill.' As we marry the Mr. Bar-B-Q brand with Blue Rhino, consumers will be able to exchange for our tanks at the front of the store and then find our propane-powered products and barbecue accessories elsewhere in that same store. It's a tremendous opportunity for us and our retail partners. Although Mr. Bar-B-Q doesn't represent our typical acquisition, it clearly meets our strict criteria. Its diverse product offerings fit quite neatly into our portfolio, and will add to our earnings at once. We're thrilled to welcome the company and its employees to the Ferrellgas family."
Ferrellgas Partners, L.P., through its operating partnership, Ferrellgas, L.P., serves customers in all 50 states, the District of Columbia and Puerto Rico. Ferrellgas employees indirectly own more than 21 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.
Tom Colvin, Investor Relations, (913) 661-1530
Scott Brockelmeyer, Media Relations, (913) 661-1830
SOURCE Ferrellgas Partners, L.P.