Ferrellgas Acquires Propane Unit From Western Petroleum

By Eric Volkman – Apr 3, 2013 at 12:00AM

OTC: FGP

Ferrellgas Partners

The fuel distributor makes a geographically strategic buy.

Ferrellgas Partners (FGP) has beefed up its core assets with an acquisition. The company bought the propane operation of Western Petroleum, a privately held company based in Utah. The terms of the purchase were not disclosed.

The acquisition is a geographically strategic one for Ferrellgas, as Western Petroleum's customer base is in parts of Utah, Colorado, and Wyoming. This region has been "long targeted for growth," Ferrellgas said in the press release announcing the purchase.

The firm has been on an acquisition streak lately. This most recent buy is its fifth since the beginning of its current fiscal year last August.

Fool contributor Eric Volkman has no position in Ferrellgas Partners, and neither does The Motley Fool. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.