Tulsa-based Heritage Propane Partners acquires Bi-State Propane

Journal Record, The (Oklahoma City), Dec 26, 2003 by Journal Record staff

Heritage Propane Partners has acquired the remaining 50 percent interest in Bi-State Propane.

The deal came in exchange for Heritage common units.

Since 1995 Heritage has been a partner in Bi-State, which has operations in Nevada and eastern California.

These are high-growth markets that have been a focus of Heritage for years, said H. Michael Krimbill, president and chief executive of Heritage Propane.

Bi-State has grown from five districts in 1995 to the present 12 districts. The addition of the 50 percent of Bi-State we did not own adds about 9.0 million retail gallons that will be easily integrated into the Heritage operations.

Tulsa-based Heritage is the fourth-largest retail marketer of propane in the United States, serving more than 650,000 customers from nearly 300 customer service locations in 29 states. Operations extend from coast to coast, with concentrations in the western, upper midwestern, northeastern, and southeastern regions of the United States.