MFA Oil Co., a farmer-owned energy supply cooperative, has acquired Platte-Clay Fuels, a self-service retail petroleum company, a subsidiary of Platte-Clay Electric Cooperative. The acquisition, which closed on Dec. 28, includes two fueling sites, in Kearney and Platte City, Missouri.
The sites will become part of Columbia, Missouri-based MFA Oil’s Petro-Card 24 network, with more than 180 locations in Missouri, Arkansas, Iowa and Kansas.
Petro-Card 24 stations, which offer fuels such as MFA Oil’s BOSS Performance Diesel and REVital Detergent Gasoline, are open to the public 24 hours a day, 365 days a year, and accept all major credit and fleet cards, in addition to MFA Oil’s proprietary credit cards.
“We are excited to bring additional fueling opportunities to our member-owners and customers in the northern Kansas City metro area,” said Kenny Steeves, senior vice president of MFA Oil operations. “We continue to expand our Petro-Card 24 network and broaden access to our convenient 24/7 fueling services.”
MFA Oil members who buy fuel from Petro-Card 24 locations with a Petro-Card 24 credit card can earn patronage dividends on their purchases. Patronage is the distribution of profits paid by a cooperative to its owners. Any agricultural producers or owners of land used for agricultural production are eligible to become an MFA Oil member if they buy at least $1,000 of product during the company’s fiscal year, Sept. 1 through Aug. 31.
Dave Deihl, CEO and general manager of Platte-Clay Electric Cooperative, says the decision to sell Platte-Clay Fuels was not taken lightly.
“It was important to us to find a buyer with a cooperative business model,” he said. “This opportunity will allow Platte-Clay to focus completely on our core business of providing the best, most reliable, electric service possible in today’s uncertain energy environment.”
- MFA is No. 98 in CSP’s 2023 Top 202 ranking of c-store chains by size.
This deal is the first acquisition of MFA Oil’s 2024 fiscal year, which began on Sept. 1, 2023.
MFA Oil, formed in 1929, is a farmer-owned cooperative and a major propane retailer in the United States. The company supplies fuels, lubricants and propane to customers in Missouri, Arkansas, Indiana, Iowa, Kansas, Kentucky, Oklahoma and Tennessee. Through a subsidiary, MFA Oil operates Break Time convenience stores in Missouri; a Big O Tires franchise in Missouri, Arkansas and Kansas; a solar panel installation company, BluSphere Energy; and APM, a wholesale fuel distributor.
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