Warrenton Oil Co., a family-owned and operated company founded in 1972 and located in Truesdale, Mo., announced the acquisition of Abel Oil Co., a family-owned and operated Missouri-based company located in Louisiana, Mo., and founded in 1940.
The acquisition includes Abel Oil’s 18 Missouri convenience stores, currently operating under the Abel’s Quick Shop brand. Terms of the deal, which is expected to close by the end of 2021, were not disclosed.
Wayne Baker, president and CEO of Warrenton Oil, said the deal will significantly expand Warrenton Oil’s presence in Missouri into Audrain, Ralls, Monroe, and Pike counties.
“The addition of these stores will allow us to better serve our customers and their communities throughout northeast Missouri,” Baker said. “We are excited to expand our farm and commercial fuel business footprint and serve the many customers of Abel Oil”
Established in 1972 in St. Charles, Mo., Warrenton Oil is a growing family-owned and operated convenience store chain with more than 700 employees. The company currently operates 37 FastLane locations throughout Central and Eastern Missouri.
Mary Banmiller, director of retail and hotel operations for Warrenton Oil, told CStore Decisions that the 18 Abel’s Quick Shops will be rebranded to FastLane.
Abel Oil was founded in 1940 by the Abel brothers consisting of Ray Abel, Alfred Abel and Charles Abel. The first five years of their partnership was interrupted by World War II with all the brothers being drafted into the military. After serving their country and being discharged in 1946 the brothers continued the operation of the oil company with each brother working in a different area of the business.
In 1957 Charles Abel was named President and the sole owner of the company until his passing in 1986. The business continued to be operated by the Abel family with Mark Abel as President and Randy Anderson as CFO until the present time.
Mark Abel stated the family has enjoyed many years in the petroleum and convenience store industry and felt that now was the time for them to retire. They will miss the many friends and customers they have had over the past 81 years and are happy to have Warrenton Oil a family-owned business like theirs to continue serving the many customers and friends they have had over the years.
“We are well acquainted with Warrenton Oil and the Baker family and are assured that their values and culture mirror ours. As Abel Oil Co.’s successor, our reputation and legacy, and our valued customers and vendors will be in good hands.”
Abel Oil was exclusively advised by Terry Monroe, president and founder of American Business Brokers & Advisors.