LIBERTY, Mo., July 12, 2018 (GLOBE NEWSWIRE) — Ferrellgas Partners, L.P. (NYSE:FGP) today announced the acquisition of Diamond Propane, Inc., an independent propane retailer based in Potsdam, New York. The transaction is expected to be immediately accretive and allows the partnership to strategically grow its footprint in northern New York. Terms of the transaction were not disclosed.
Founded in 1995, Diamond Propane serves residential, agricultural, industrial, and commercial customers in and around St. Lawrence County.
“Diamond Propane is a well-run company that has built a strong reputation in the communities it serves by providing great customer service,” said Ferrellgas President and Interim Chief Executive Officer Jim Ferrell. “It’s exactly the type of business we’ve looked to acquire through the years, and I couldn’t be more pleased that they’ve joined the Ferrellgas family.”
In more than 75 years as a propane provider, Ferrellgas has made nearly 240 acquisitions in an effort to expand strategically and better serve its customers nationwide.
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, 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 28, 2017. Investors can request a hard copy of this filing free of charge and obtain more information about the partnership online at www.ferrellgas.com.