MFA Oil Broadens Kansas Reach With S&S Oil Deal
COLUMBIA, Mo. — MFA Oil Co. acquired S&S Oil and Propane Co. Inc., a propane, refined fuels and lubricants retailer. The transaction includes 17 propane storage facilities, five bulk fuel storage facilities, five card refueling locations and S&S’ headquarters in Emporia, Kan.
“This is a major acquisition that will significantly broaden our business in Kansas and fits in well with the Lybarger Oil purchase we made in September 2015,” said Don Smith, MFA Oil's director of mergers and acquisitions. “The volume of business we’ve acquired from S&S and Lybarger is larger than all of MFA Oil’s previous bulk fuel and propane acquisitions for the last five years combined.”
S&S brings an additional 5.2 million gallons of annual propane sales and 5.1 million gallons of annual refined fuel sales to MFA Oil.
S&S covers a 24-county trade territory stretching from Kansas’ eastern border to the Wichita, Kan., outskirts and from Interstate 70 southbound to U.S. Highway 54.
“MFA Oil has extensive experience working with rural communities and its commitment to customers mirrors what we’ve practiced with our clientele for almost 60 years,” said Joyce French, S&S' vice president and co-owner. “My brother, Jim Shepherd [S&S' president and co-owner], and I are excited to find such a reputable company to continue servicing our customers in the future.”
The S&S deal is MFA’s fourth acquisition of its current fiscal year, which began Sept. 1. Previous acquisitions were Lybarger Oil Inc. in Garnett, Kan.; Elaine Petroleum Distribution Inc. in Elaine, Ark.; and R&S Propane Inc. in Dibble, Okla.
In a news release, MFA — which via a subsidiary operates Break Time convenience stores in Missouri and Arkansas, Jiffy Lube franchises in central Missouri, and Big O Tires franchises in Missouri and Arkansas — stated it is seeking further acquisition opportunities.
“We’re really excited about the high-quality companies we’ve been able to acquire recently,” said Jon Ihler, MFA Oil's vice president of sales and marketing. “These acquisitions bring great value to our member-owners and great opportunities for us to grow in the future.”
Founded in 1929, Columbia-based MFA Oil Co. is a farmer-owned cooperative with more than 40,000 members. It is the seventh largest propane retailer in the United States.