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.