America has a gas with AmeriGas Partners. Purveying propane has propelled the company to its position as the top US retail propane marketer (besting Ferrellgas). It serves more than 2 million residential, commercial, industrial, agricultural, motor fuel, and wholesale customers form 1,200 locations in 50 states. AmeriGas also sells propane-related supplies and equipment and exchanges prefilled portable tanks for empty ones. The company stores propane in Arizona, California, and Virginia and distributes its products through an interstate carrier structure that runs across the US and in Canada. In a major expansion, in 2012 AmeriGas bought the propane operations of Energy Transfer Partners for about $2.9 billion
Energy Transfer Partners had propane operations in 41 states, and through subsidiaries Heritage Operating, and Titan Energy Partners was the #3 propane distributor in the US. The deal added more than 1 million retail propane customers and more than 500 million gallons to AmeriGas' US propane distribution operations.
AmeriGas has traditionally grown through smaller acquisitions. In fiscal 2009 the enterprise bought Penn Fuel Propane and four other companies, boosting its customer base by 42,000 and its annual propane output by 20 million gallons. It also acquired a number of retail propane distribution businesses across the US in 2010 and 16 in 2011.
AmeriGas is also growing internally through the expansion of its prefilled propane business (cylinder exchange) located at about 25,000 retail locations in the US.
Higher retail propane prices lifted overall revenues in 2011, offsetting lower demand. Howerver, higher propane pricing, and increased operating and administrative expenses and depreciation charges dragged down net income for the year.
Utility holding company UGI owned 26% of AmeriGas in 2012. – less
5 salaries reported
$58,983 per year