Family-owned company will remain in the wholesale fuel business.
Casey’s General Stores, announced it has purchased and acquired five convenience stores of Frawley Oil Company located in Whitewater, Wis. Casey’s expects these convenience stores to be rebranded and that they will undergo improvements in the coming months following the final closing of the transaction.
Ankeny, Iowa-based Casey’s operates more than 2,000 stores, which are generally located in towns of 5,000 population or less.
Frawley Oil was founded in 1948 by Jack Frawley after returning from WWII. He purchased the business from Cities Service Oil and changed the name to Frawley Oil Co. Frawley and his wife, Betty, operated the business and raised their family in Whitewater.
In 1974, their son Mike began working for the family business. Frawley Oil continued to service the area with fuel delivery, but expanded into the tire and service business, and then into the convenience store business and operated their Citgo convenience stores in Jefferson and Walworth counties.
Frawley Oil continues to distribute fuels and lubricants throughout southeastern Wisconsin, as a third-generation company.
Mike Frawley, president of Frawley Oil, said more than anything he will miss the employees and customers he has known over the many years from operating the convenience stores, and hopes customers will continue to patronize the new owners. He said the decision to sell the convenience stores was bitter sweet and plans to concentrate his efforts on their fuel and lubricant distribution business.
Terry Monroe of American Business Brokers & Advisors, based in Effingham, Ill. and Bill Fecht of W.J.F. Services, Inc., based in Normal, Ill. provided merger & acquisition advisory services to Frawley Oil.