Liberty Propane Announces Acquisition of Jenkins Gas

OVERLAND PARK, KS -- Liberty Propane has announced it has entered into an agreement with Jenkins The Energy Company, formerly Jenkins Gas Company. This transaction will allow Liberty to acquire 19 of Jenkins’ locations in North Carolina as well as the Jenkins’ corporate office in Pollocksville.

“This is a tremendous opportunity for us,” said Kent Misemer, Liberty’s CEO. “Jenkins is widely known to be one of the best companies in the industry, and we are very proud to be associated with them. Operationally, they are one of the soundest companies I’ve ever seen.”

The acquisition of Jenkins will bring the rapidly-growing Overland Park, Kansas based propane retailer to a total of 80,000 customers at 32 locations in 8 states, including operations in the Northeast, the Rocky Mountain Southwest and the Southeast. With the closing of the Jenkins acquisition, Liberty will become the 15th largest propane company in the United States.

In connection with the transaction, industry veteran Bob Mattocks will be appointed to Liberty’s Board of Directors and will continue to serve as Chairman of The Jenkins Group. John Robert Mattocks will join Liberty’s management team as Jenkins Group President and will direct the company’s operations in the Southeast from the Pollocksville headquarters. All Jenkins employees will be retained.

Terms of the transaction, which is scheduled to close within thirty days, pending regulatory filings, were not disclosed.

Liberty Propane is one of the nation’s most active propane acquisition companies. Since its formation in July of 2003, Liberty has completed fourteen acquisitions.

The information presented herein may contain certain “forward-looking statements” within the meaning of the federal securities laws. The Partnership’s actual future performance will be affected by a number of factors, risks and uncertainties, including, without limitation, weather conditions, regulatory changes, competitive factors, and the operations of vendors, suppliers and customers, many of which are beyond the Partnership’s control. Future events and results may vary substantially from what the Partnership currently foresees, and there can be no assurance that the Partnership’s actual results will not differ materially from its expectations. The Partnership undertakes no obligation to publicly release any revision to these forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.