Thursday, April 2, 2015
MFA Oil Co. (Columbia, Mo.) has acquired Cunningham Propane, a family-owned propane retailer based in West Helena, Ark. Details of the transaction were not released. The purchase is MFA Oil’s fifth acquisition of its fiscal year that began Sept. 1, 2014 and the tenth in the last 12 months.
“We are thrilled to add Cunningham Propane as our latest propane acquisition,” said Mark Fenner, MFA Oil president and CEO. “As we look to grow our already strong presence in Arkansas, adding retailers like Cunningham goes a long way. Cunningham’s longstanding reputation as an excellent propane retailer fits nicely into our model, as many of our values and goals align.”
MFA Oil said it continues to look for opportunities to purchase companies in its existing market area, as well as expand its footprint to other states. The company previously acquired Faughn Oil Co. of Campbell, Mo.; Alexander Propane of Sullivan, Mo.; Brown Propane Gas Inc. of Neosho, Mo.; All Propane of Murfreesboro, Tenn.; Home Service Oil of Poplar Bluff, Mo.; New Hampton Propane of New Hampton, Mo.; Georgia LP Gas Co. of Manchester, Ga.; PB’s Propane of West Plains, Mo.; and Basin Propane Systems of Vernal, Utah.
MFA Oil, 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, it operates Break Time convenience stores in Missouri and Arkansas, Jiffy Lube franchises in central Missouri, and Big O Tires franchises in Missouri and Arkansas.
“We are thrilled to add Cunningham Propane as our latest propane acquisition,” said Mark Fenner, MFA Oil president and CEO. “As we look to grow our already strong presence in Arkansas, adding retailers like Cunningham goes a long way. Cunningham’s longstanding reputation as an excellent propane retailer fits nicely into our model, as many of our values and goals align.”
MFA Oil said it continues to look for opportunities to purchase companies in its existing market area, as well as expand its footprint to other states. The company previously acquired Faughn Oil Co. of Campbell, Mo.; Alexander Propane of Sullivan, Mo.; Brown Propane Gas Inc. of Neosho, Mo.; All Propane of Murfreesboro, Tenn.; Home Service Oil of Poplar Bluff, Mo.; New Hampton Propane of New Hampton, Mo.; Georgia LP Gas Co. of Manchester, Ga.; PB’s Propane of West Plains, Mo.; and Basin Propane Systems of Vernal, Utah.
MFA Oil, 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, it operates Break Time convenience stores in Missouri and Arkansas, Jiffy Lube franchises in central Missouri, and Big O Tires franchises in Missouri and Arkansas.
