MFA Oil Company Acquires Oklahoma-Based Terry’s PropaneWed, 04 May 2016 16:41:30 CDT
MFA Oil Company, the seventh largest propane retailer in the United States, has acquired Terry’s Propane, Inc., a propane supplier based in Washington, Okla. The acquisition is the latest in a series of purchases MFA Oil has made to expand its operating footprint.
“The purchase of Terry’s Propane solidifies our presence in the Oklahoma City area and is a complementary fit with R&S Propane Inc., another company we recently acquired,” said Don Smith, MFA Oil director of mergers and acquisitions. “Terry Reynolds, the former owner of Terry’s Propane’s, has agreed to stay on and manage both operations for us. The ability to bring Terry into our company was a key part of this acquisition and we are very excited to have him join the MFA Oil Company team.”
This is MFA Oil’s sixth acquisition of its fiscal year, which began September 1, 2015. Previous acquisitions include Lybarger Oil, Inc. in Garnett, Kan.; Elaine Petroleum Distribution, Inc. in Elaine, Ark.; R&S Propane, Inc. in Dibble, Okla; S&S Oil and Propane Company Inc. in Emporia, Kan.; and Brownfield Oil Company in Moberly, Mo.
MFA Oil Company, formed in 1929, is a farmer-owned cooperative with more than 40,000 members. The company supplies fuels, lubricants and propane to customers in Missouri, Arkansas, Colorado, Georgia, Indiana, Iowa, Kansas, Kentucky, Nebraska, Oklahoma, North Carolina, Tennessee, Utah and Wyoming. Through a subsidiary, MFA Oil operates Break Time convenience stores in Missouri and Arkansas, Jiffy Lube franchises in central Missouri and Big O Tires franchises in Missouri and Arkansas.
Source: MFA Oil Company
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