LAKEPORT, Calif. – Ferrellgas Partners on Thursday announced the acquisition of Economy Propane Inc., an independent propane retailer based in Lakeport.

The purchase is the company's first in its fiscal year that began Aug. 1, and the fourth this calendar year. Terms of the deal were not disclosed.

“Economy Propane is a perfect example of a company that meets Ferrellgas' strict criteria of acquiring good businesses in good markets,” said President and Chief Executive Officer Steve Wambold. “We look forward to serving these new customers and to welcoming Economy's employees into the Ferrellgas family.”

This most recent purchase adds to the approximately 225 acquisitions the company has completed in its 72-year history.

During that time, Ferrellgas has grown from a small, family-owned business to a publicly traded company that is the nation's second largest propane retailer and, through its Blue Rhino operation, the nation's largest provider of propane by portable tank exchange.

Ferrellgas Partners, L.P. is a Fortune 1000 company and, through its operating partnership, Ferrellgas, L.P., serves approximately 1 million customers in all 50 states, the District of Columbia and Puerto Rico. Ferrellgas Employees indirectly own more than 20 million common units of the partnership through an employee stock ownership plan.

More information about the company can be found at www.ferrellgas.com/.