Ferrellgas Announces Acquisition of Kings River Propane

Dec 10, 2010, 07:00 ET from Ferrellgas Partners, L.P.

OVERLAND PARK, Kan., Dec. 10, 2010 /PRNewswire-FirstCall/ -- Ferrellgas Partners, L.P. (NYSE: FGP) today announced the acquisition of Kings River Propane, an independent propane retailer with locations in Reedley and Clovis, California. The acquisition marks the partnership's second acquisition since the start of its fiscal year, which began August 1. Terms of the deal were not disclosed.

"This acquisition helps us build upon the strong presence we already enjoy in the region by giving us access to several key markets we do not currently serve," President and Chief Executive Officer Steve Wambold says. "We look forward to serving our newest customers and to welcoming Kings River Propane's employees into the Ferrellgas family."

This most recent purchase adds to the approximately 225 acquisitions the company has completed in its more than 70-year history. During that time, Ferrellgas has grown 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.

Ferrellgas Partners, L.P. is a Fortune 1000 company and, through its operating partnership, Ferrellgas, L.P., serves approximately 1 million customers in all 50 states, the District of Columbia, and Puerto Rico. Ferrellgas employees indirectly own more than 20 million common units of the partnership through an employee stock ownership plan. More information about the company can be found at www.ferrellgas.com.


Jim Saladin, Media Relations, 913-661-1833

Tom Colvin, Investor Relations, 913-661-1530

SOURCE Ferrellgas Partners, L.P.