COLUMBIA, Mo. -- MFA Oil Co. has expanded its propane and agricultural-fuel marketing reach yet again with two acquisitions: Home Service Propane Gas LLC and All Propane.
Based in Poplar Bluff, Missouri, the Home Service acquisition covers the refined fuels and propane business of Home Service Oil Co., which also owns and operates 74 Express Mart convenience stores in Missouri. The deal with MFA Oil does not include the retail sites, Home Service Oil president David Mangelsdorf told CSP Daily News.
“This is the third time over the years we’ve sold off propane assets,” he said. “It’s a cyclical business, and as of late, it hasn’t been paying the way we’d like, so we let it go.”
The Home Service Oil assets allow MFA to grow its service in southeast Missouri and northeast Arkansas. All Propane is a Murfreesboro, Tenn.-based company, which provides MFA Oil with its first propane operation in the state of Tennessee.
“MFA Oil continues to look for opportunities to grow our operations in our current market area, as well as expanding our footprint into new states,” said Mark Fenner, MFA Oil president. “We are pleased to add these employees to our team and look forward to serving these customers.”
These are the seventh and eighth acquisitions for MFA Oil, Columbia, Mo., in the last fiscal year, Previous deals included American Petroleum Marketers, Bonner Springs, Kansas; Smoky Mountain Propane LLC, Sylva, N.C.; Eubanks Oil, Paragould, Ark.; Alexander Propane LLC, Sullivan, Mo.; Faughn Oil, Campbell, Mo; and Brown Propane, Neosho, Mo. These eight acquisitions increase MFA Oil’s annual volume by over 47 million gallons.
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