Ferrellgas Partners, L.P. Announces Acquisition of Wylie LP Gas, Inc.

LIBERTY, Mo., Nov. 01, 2018 (GLOBE NEWSWIRE) -- Ferrellgas Partners, L.P. (NYSE:FGP) (“Ferrellgas” or the “Company”) today announced the acquisition of Wylie LP Gas, Inc., a third party Blue Rhino distributor headquartered in Lubbock, Texas. The transaction is expected to be immediately accretive. Terms of the deal were not disclosed.

A long-time independent Blue Rhino distributor, Wylie delivers propane cylinders to retailers in northwest Texas and south-central New Mexico. This acquisition is further indication of the Company’s commitment to growing its core propane business. This purchase gives Ferrellgas the opportunity to better serve its tank-exchange customers throughout the region while improving operational efficiencies and lowering production expenses.

“This is another important step forward for Ferrellgas and Blue Rhino as we seek to provide the best service possible to our retail tank exchange customers,” said Ferrellgas President and Interim Chief Executive Officer Jim Ferrell. “As Blue Rhino continues to expand its customer base, we will likewise continue to identify new and improved ways to efficiently and effectively expand our capabilities to meet demand.”

In nearly 80 years of business, Ferrellgas has acquired more than 250 independent retail companies. This acquisition follows recent purchases of third-party Blue Rhino distribution companies Salathe Propane of Harvey, Louisiana; North Star Exchange of Walton, Indiana; and Tapper Propane Equipment of Decatur, Michigan.

About Ferrellgas

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. 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 27, 2018. Investors can request a hard copy of this filing free of charge and obtain more information about the partnership online at .

Forward Looking Statements 

Statements in this release concerning expectations for the future are forward-looking statements. A variety of known and unknown risks, uncertainties and other factors could cause results, performance, and expectations to differ materially from anticipated results, performance, and expectations. These risks, uncertainties, and other factors include those discussed in the Form 10-K of Ferrellgas Partners, L.P., Ferrellgas Partners Finance Corp., Ferrellgas, L.P., and Ferrellgas Finance Corp. for the fiscal year ended July 31, 2018, and in other documents filed from time to time by these entities with the Securities and Exchange Commission.

Contacts

Jim Saladin, Media Relations – , 913-661-1833

Bill Ruisinger, Investor Relations – , 816-792-7914