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Article: Steady 20-year growth turns Missouri's mid-state oil into an acquisition prize.
- Article from:
- The Oil Daily
- Article date:
- February 20, 1985
- Author:
CopyrightCOPYRIGHT 1985 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CENTRAL Missouri jobber Jake Schenewerk never imagined when he founded Mid-State Oil Co. 20 years ago that it would grow to have sales of $40 million in 1984, and that MFA Oil Co. would want to buy it.
MFA Oil Co. purchased Schenewerk's business for undisclosed terms, taking with it 250 oil company and vending business employees, effective Feb. 1. The acquisition covered 47 retail outlets in 32 Missouri cities, including 26 locations with convenience stores, 10 dealer-operated outlets, all 11 strictly retail gasoline outlets.
It's easy to see why MFA would be attracted to the business. MFA President Dale Creach said the jobbership sold 33 million ...