MFA Oil Acquires Self-Service Retail Fuel Company
COLUMBIA, Mo. — MFA Oil Co. is adding to its fuel station count.
On Dec. 28, the company closed on its acquisition of Platte-Clay Electric Cooperative subsidiary Platte-Clay Fuels, a self-service retail petroleum company.
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The transaction included two fueling sites in Missouri: one at 510 Sam Barr Drive in Kearney, and one at 1500 Branch Street in Platte City.
The two new locations will join MFA Oil's Petro-Card 24 network, which includes more than 180 locations in Missouri, Arkansas, Iowa and Kansas. Petro-Card 24 stations offer fuels such as BOSS Performance Diesel and REVital Detergent Gasoline; are open to the public 24 hours a day, 365 days a year; and accept all major credit and fleet cards, in addition to MFA Oil's proprietary credit cards.
"We are excited to bring additional fueling opportunities to our member-owners and customers in the northern Kansas City metro area," said Kenny Steeves, senior vice president of MFA Oil operations. "We continue to expand our Petro-Card 24 network and broaden access to our convenient 24/7 fueling services."
MFA Oil made two previous acquisitions in its 2023 fiscal year, while the Platte-City purchase is the first for the company's 2024 fiscal year, which began on Sept. 1, 2023. MFA Oil additionally stated it plans to continue to evaluate strategic acquisition opportunities within its trade territory.
According to Dave Deihl, CEO and general manager of Platte-Clay Electric Cooperative, the decision to sell Platte-Clay Fuels was not taken lightly.
"It was important to us to find a buyer with a cooperative business model," Deihl said. "This opportunity will allow Platte-Clay to focus completely on our core business of providing the best, most reliable, electric service possible in today's uncertain energy environment."
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Founded in 1929, MFA Oil is a farmer-owned cooperative and the ninth-largest propane retailer in the United States. The company supplies fuels, lubricants and propane to customers in Missouri, Arkansas, Indiana, Iowa, Kansas, Kentucky, Oklahoma, and Tennessee.
Through a subsidiary, the company operates Break Time convenience stores in Missouri and wholesale fuel distributor APM, among other businesses.