After 46 years in the petroleum industry, Wisconsin-based Loeder Oil has announced that it has sold all nine convenience stores to Dallas-based Moe’s Mart.
Loeder Oil has a long history, with Bill Loeder beginning his career in 1969 with Amoco Fertilizer and later transferring to the Heating Oil division in 1972 as an agent with one truck. In 1976, Amoco discontinued the agent relationship and replaced it with a jobber relationship. Bill started operating the first garage/store in 1978 with the addition of delivering heating oil with five trucks and representing Lennox to offer a full heating department.
In 1988, Dan Loeder joined the family business, and in 1992 the decision was made to exit the heating oil and Lennox businesses and focus on the managing and growing of the convenience store concept — ultimately growing the company to a total of nine stores.
Both Bill Loeder and Dan Loeder said they have enjoyed growing the company and the business of owning and operating convenience stores, but realized the time had come to exit the industry and pursue other opportunities.
Terry Monroe, founder and president of American Business Brokers & Advisors, and Bill Fecht of WJF Services provided merger and acquisition advisory services to Loeder Oil, which included valuation advisory, marketing and negotiation of the transaction.
