Ferrellgas Divests Four Businesses for $92 Million

Written on: August 6, 2018 by ICM

Ferrellgas Partners L.P., Liberty, MO, has sold its Bridger Environmental, Bridger Transportation, and Bridger Terminals and Blue Rhino Global Sourcing lines of business to various companies for approximately $92 million. These divestures reflect the company’s move to focus on its core retail propane distribution and Blue Rhino tank exchange operations.
The Bridger Environmental saltwater disposal and Transportation crude oil trucking companies, as well as two crude oil injection terminals, were sold to subsidiaries of Pilot Flying J on July 31. In separate transactions, the remaining assets of the Bridger Terminal business were sold to various parties including a division of The Granite Peak Group. Blue Rhino Global Sourcing, a maker of grills, firepits and grilling tools, was sold on July 27 to an undisclosed buyer.
These moves follow Ferrellgas’ acquisition of Diamond Propane Inc., Potsdam, NY, on July 12 for an undisclosed sum.