Mergers & Acquisitions

Riiser Fuels Acquires Jetz C-Stores

Wisconsin expansion continues with latest deal
Photograph courtesy of Jetz Convenience Centers

WAUSAU, Wis. — Riiser Fuels LLC has acquired Jetz Convenience Centers' four c-stores. Two are in Milwaukee, with the others in Hales Corners and Muskego, Wis.

The deal brings the total stores in Wausau, Wis.-based Riiser Fuels' portfolio to 58. It has converted most of these locations from their previous brands to BP and Amoco. Three of the sites offer car washes and have attached quick-service restaurants.

The acquisition of the Jetz convenience stores allows Riiser Fuels to expand into a metropolitan market that is growing rapidly and to cover nearly the entire state of Wisconsin, the company said.

Bob O’Connor, president of Jetz, said he has enjoyed the convenience-store business for the past 32 years and will remain active in the  industry, but in a different capacity. He is the past president of the Wisconsin Petroleum Marketers Association, among other industry groups. His partner Tim Klein also plans to remain active in the c-store industry and has accepted a position as operations director of Riiser Fuels, overseeing the many stores Riiser has acquired in Wisconsin.

Terry Monroe of American Business Brokers & Advisors, Effingham, Ill., and Bill Fecht of WJF Services Inc., Normal, Ill., advised Jetz on the transaction.

  • Riiser Fuels is No. 128 in CSP's2019 Top 202 ranking of c-stores by total number of retail outlets.

 Riiser Fuels' creation and growth have come through a steady series of acquisitions.

Riiser Fuels was formed in June 2018 to acquire the 34-unit R-Store convenience-store chain Riiser Energy in Wisconsin from owners Dudley Investments LLC, Wildcatters LLC and Kemerling Investments LLC.

In July 2018, it acquired Mad Max in southeast Wisconsin, adding 10 new locations to the R-Store network. These sites are in Sheboygan, West Bend, Port Washington and Fond du Lac.

In August 2018, Riiser Fuels purchased six sites from Marshall’s Convenience Stores Inc., Cascade, Wis. This added six new sites to the R-Store offering in Elkhart Lake, Cascade, Glenbeulah, Kewaskum and Plymouth, Wis., in southeast Wisconsin.

And in May 2019, it purchased four locations in the Oshkosh, Wis., area from Blue Moose Convenience Stores, based in Oshkosh.

Riiser Fuels' locations are branded BP, Amoco, Mobil, Cenex, CITGO or Clark. The merchandise offerings include tobacco products, alcoholic beverages, soda, dairy products, candy and snacks, as well as general merchandise and lottery sales. All locations have a hot beverage service that includes coffee, hot chocolate and cappuccino.

In April 2019, Riiser Fuels sold its retail dealer, tankwagon and transport divisions to Condon Cos., Ripon, Wis.

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