Ferrellgas Partners L.P.
) announced the acquisition of Mr. Bar-B-Q for an undisclosed
amount. New York-based Mr. Bar-B-Q provides high-quality barbeque
instruments and allied accessories. In the future, Mr. Bar-B-Q
will act as part of Ferrellgas Partners' Blue Rhino brand.
FERRELLGAS -LP (FGP): Free Stock Analysis
LEHIGH GAS PTNR (LGP): Free Stock Analysis
MARATHON PETROL (MPC): Free Stock Analysis
PBF ENERGY INC (PBF): Free Stock Analysis
To read this article on Zacks.com click here.
Under the Blue Rhino brand name, Ferrellgas Partners provides
barbeque grills and outdoor living products through retail
outlets. We expect this acquisition to be immediately accretive
to the partnership given Mr. Bar-B-Q's presence in the bar-b-q
apparatus domain. It is also likely to enhance the partnership's
product coverage and strengthen its market penetration.
This marks Ferrellgas Partners' fourth acquisition in the current
fiscal year, taking the tally to nearly 241 to date. The
partnership's recent significant buys were Connecticut-based IGS
Propane in Dec 2012, El Paso-based Flores Gas in Oct 2012 and
Sacramento-based Capitol City Propane in Sep 2012. These
acquisitions will enable Ferrellgas Partners to strengthen its
presence in the state along with adding customers.
After completing significant propane-assets deals, we consider
Ferrellgas Partners' latest take-over of non-core property a
significant step toward product portfolio diversification. We
believe this acquisition will further boost its financial
performance and bring in earnings flow from different streams.
Ferrellgas Partners currently has a Zacks Rank #3 (Hold). Besides
the partnership, other stocks from the industry like
Lehigh Gas Partners LP
Marathon Petroleum Corporation
PBF Energy Inc.
) are presently performing better and currently carry a Zacks
Rank #1 (Strong Buy).
Overland Park, KS.-based Ferrellgas Partners LP is a leading
distributor of propane and related equipment in the U.S. The
partnership provides propane services to Residential, Industrial,
Portable Tank Exchange, Agricultural and Wholesale customers.