Mergers & Acquisitions

Riiser Fuels Acquires Mad Max

Expansion plans turn into sale of Wisconsin chain

WAUSAU, Wis. -- Riiser Fuels Holdings LLC has acquired the 11 locations of Mad Max Convenience Stores.

Janiece Maxwell, president of Mad Max Convenience Stores, Saukville, Wis., said the company had planned on growing the Mad Max chain beyond the 11 convenience stores, but when Riiser Fuels approached the executives about a deal, it “appeared to be a good fit for them to exit as owners and for the Mad Max employees to be able to work with a local and established convenience-store chain such as Riiser Fuels.”

In August 2017, Mad Max confirmed a deal to sell nine c-stores in southeastern Wisconsin to West Des Moines, Iowa-based c-store retailer Yesway and two other locations to unnamed buyers. Maxwell said she expected the sale to Yesway to close in late October; however, that month, Steve Magestro, president of Mad Max, told CSP Daily News that the sale was off.

Terry Monroe of American Business Brokers & Advisors, Effingham, Ill., and Bill Fecht of WJF Services Inc., Normal, Ill., advised Mad Max on the sale to Riiser Fuels.

Based in Wausau, Wis., Riiser Fuels operates 34 c-stores in Wisconsin. Riiser Fuels is an investment group that was formed in June to acquire the 34-unit R-Store c-store chain Riiser Energy in Wisconsin from owners Dudley Investments LLC, Wildcatters LLC and Kemerling Investments LLC.

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