Ferrellgas Partners (NYSE: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. Try any of our Foolish newsletter services free for 30 days. 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.
More from The Motley Fool
Read This Before You Hit the Buy Button on Ferrellgas Partners
Here's what you need to know to decide whether it belongs in your portfolio.
Is Ferrellgas Partners, L.P. a Buy in 2018?
The record cold spell engulfing the country is just the catalyst Ferrellgas Partners needed.
Here's Where Things Went Wrong for Ferrellgas Partners, L.P. in 2017
After a disastrous end to 2016, things didn't get any better for Ferrellgas Partners this year.