MFA Oil Co. has announced the acquisition of self-service retail petroleum company Platte-Clay Fuels, a subsidiary of Platte-Clay Cooperative.
The acquisition, which closed on Dec. 28, includes two fueling sites located in Kearney and Platte City, Mo.
The acquired fueling sites in Kearney and Platte City will become the latest additions to MFA Oil Company’s Petro-Card 24 network, with more than 180 locations in Missouri, Arkansas, Iowa and Kansas. Petro-Card 24 stations offer high-quality 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 — the distribution of profits paid by a cooperative to its owners — on their purchases. 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,” said Deihl. “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.”
This is the first acquisition of MFA Oil’s 2024 fiscal year, which began on Sept. 1, 2023. MFA Oil made two acquisitions in its 2023 fiscal year. The company will continue to evaluate strategic acquisition opportunities within its trade territory.
MFA Oil Co., formed in 1929, is a farmer-owned cooperative and the ninth-largest propane retailer in the U.S. 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.
