Family-owned Thoele Oil is exiting the c-store business after more than 65 years in business.
WARRENTON, Mo. — Warrenton Oil Co., owner and operator of FastLane Convenience Stores, is enhancing its area footprint with the acquisition of St. Charles, Mo.-based Thoele Oil, a family-owned and -operated chain of 10 convenience stores.
The deal expands Warrenton's footprint in St. Charles, St. Peters and O'Fallon, Mo.
"The addition of these stores will allow us to better serve our customers and their communities throughout Missouri," said Wayne Baker, president and CEO of Warrenton Oil. "We are excited to expand our convenience store business footprint and serve the many customers of Thoele Oil."
The Thoele family started the business in 1956 and believes that now is the time to retire from the c-store industry, according to Thoele Oil President Linda Thoele.
Terry Monroe, president and founder of Effingham, Ill.-based American Business Brokers & Advisors, which provides merger and acquisition and advisory services in the sale of multisite convenience stores and fuel distribution, exclusively advised Thoele Oil on the transaction.
Warrenton Oil has been expanding its c-store count and enhancing the company's services in recent years. In fall 2021, Warrenton expanded its reach in Missouri through the acquisition of 18 Abel's Quik Shops, growing the company's presence in Audrain, Ralls, Monroe and Pike counties.
Additionally, in fall 2022, Warrenton partnered with Liquid Barcodes to roll out a new app-based monthly car wash subscription program at FastLane c-stores, as Convenience Store News previously reported. Customers can subscribe to the program through the existing FastLane mobile app and choose from multiple car wash subscription packages, plus add-ons and one-time washes, for a contactless car wash experience.
Established in 1972 in St. Charles, FastLane is a subsidiary of Warrenton Oil Co., which operates 55 c-stores throughout the state in addition to hotels, car and truck washes and WOCO Transportation LLC.