Ferrellgas Partners Acquires Eastern Sierra Propane

The sale results in 5,500 additional customers.

January 30, 2024

Ferrellgas Partners L.P., a propane supplier, has acquired Eastern Sierra Propane, a retailer located in Bishop, California. Eastern Sierra serves customers in the Eastern Sierra Nevada mountain range, serving both residential and commercial customers.

Eastern Sierra Propane was originally founded in 1993 by Tom Sigler and Rudy Forster. Tom Sigler subsequently acquired the remaining 50% ownership interest. Jason Sigler, Tom’s son, joined the company in 1998.

Initially, the company operated out of Sigler’s house, and propane storage was a 12,000-gallon tank at a customer's location in exchange for installing vapor meters on gas dryers. It was clear that larger space and propane storage was needed. The company leased a nearby property and installed its first 30,000-gallon propane tank.

The propane retailer has 5,500 customers today, according to the company website.

Matrix provided merger and acquisition advisory services to Eastern Sierra Propane, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale.

In April 2023, Matrix announced the sale of Li’l Thrift Food Marts, which involved 43 company-operated petroleum marketing and convenience retail stores.

In November 2023, Offen Petroleum acquired the wholesale business of Douglass Distributing, a longstanding convenience retailer and wholesaler. Douglass’ propane business has more than 4,600 residential customers, its wholesale business has more than 150 major customers, and its commercial business has more than 2,800 fuel, lubricant, and diesel exhaust fluid (DEF) customers.