Warrenton Oil Co., a family-owned and operated company founded in 1972 and located in Truesdale, Mo., has acquired Thoele Oil, a family-owned and operated Missouri-based company located in St. Charles, Mo.
Warrenton Oil and its FastLane Convenience Stores will take over 10 convenience stores from Thoele Oil. The addition of the 10 convenience stores expands Warrenton’s market area into St. Charles, St. Peters, and O’Fallon, Missouri.
Like Warrenton Oil, Thoele Oil has deep roots in Missouri. The company was founded in 1956.
“The addition of these stores will allow us to better serve our customers and their communities throughout Missouri,” stated Wayne Baker, President & CEO of Warrenton Oil Company. “We are excited to expand our convenience store business footprint and serve the many customers of Thoele Oil”
Linda Thoele, president of Thoele Oil, said the family started the oil business in 1956 and has has enjoyed many years in the petroleum and convenience store industry and felt that now was the time for them to retire from the retail business of convenience stores.
Thoele Oil was exclusively advised by Terry Monroe, President and Founder of American Business Brokers & Advisors (www. TerryMonroe.com) a national company which provides merger and acquisition and advisory services in the sale of multi-site convenience stores and fuel distribution.
This is the second acquisition for Warrenton Oil in the past 16 months. In October 2021, the company acquired Abel Oil Co., a family-owned and operated Missouri chain based in Louisiana, Mo. That acquisition includes Abel Oil’s 18 Missouri convenience stores, currently operating under the Abel’s Quick Shop brand.
With this deal, Warrenton Oil grows to more than 65 stores, 20 car washes and nearly 1,000 employees across Central and Eastern Missouri.