WAVERLY - AgVantage FS Inc. is expanding its liquefied petroleum gas business.

AgVantage, based in Waverly, bought Ferrellgas assets in Cedar Falls, Oelwein, Independence and Manchester. The purchase includes liquefied petroleum gas, or LP gas, storage facilities. The business is a full-service LP Gas sales and service operation and serves customers in Black Hawk, Bremer, Buchanan and Fayette counties, as well as surrounding areas.

Wade Mittelstadt, AgVantage's chief financial officer, said the company had been talking about the purchase with Ferrellgas for about two months.

"It fits nicely into our existing operations," Mittelstadt said.

Mittelstadt said all current contracts involving Ferrellgas customers will be honored by AgVantage.

"We hopefully will provide a high level of service," he said.

In a prepared statement, Gaylan Brunssen, AgVantage's general manager, said the company is excited about the purchase.

"Ferrellgas is a well-respected company within our trade area and has good market presence. This opportunity will allow us to continue to build efficiencies into our existing LP routes through volume and critical mass of customers," Brunssen said.

AgVantage is a cooperative serving 25 counties in northern Iowa. The company provides grain marketing services, crop inputs, energy products and feed and grain handling systems. AgVantage has 35 locations and eight grain elevators in Iowa.

Contact RC Balaban at (319) 291-1418 or rc.balaban@wcfcourier.com.