Overland Park, KS-based Ferrellgas Partners, L.P announced that it has acquired the assets of Propane Advantage, LLC. The acquisition expands Ferrellgas' strategic footprint, giving the company entry to the rapidly growing Salt Lake City market and complementing its existing operations in the Mountain West region.
"The addition of Propane Advantage provides us with a rock-solid base of operations in Utah," President and Chief Executive Officer Steve Wambold said. "It is a business that made its reputation on providing excellent service to the residents and businesses throughout the area, and we look forward to carrying on that tradition."
This most recent purchase adds to the approximately 235 acquisitions the company has completed in its more than 75-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. The company is also aggressively pursuing diversification opportunities in the petroleum midstream, recently purchasing Dallas-based Bridger Logistics, a provider of integrated crude oil logistic services.
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.
Terms of the sale were not disclosed.