Ferrellgas Partners buys Motor Propane Service
Propane distributer Ferrellgas Partners buys Motor Propane Service to boost business in Wis.
Ferrellgas has acquired Motor Propane Service as it pushes into new markets in Wisconsin.
The propane distributer did not disclose financial details Monday.
Motor Propane Service has locations in Manitowoc and Sheboygan. Ferrellgas already has more than 50 locations in the state, but said that the acquisition will broaden its service area in Wisconsin. The Overland Park, Kan., company announced last month that it had acquired rival propane company KanGas Corp.
The company also said Monday that it is maintaining its revenue guidance for the fiscal second quarter, which ends Jan. 31, between $265 million to $275 million.
Shares of Ferrellgas Partners LP, were unchanged in premarket trading Monday. They closed at $22.96 Friday.
