Dive Brief:
- Convenience store and fuel retailer Warrenton Oil Co. has acquired fellow Missouri retailer Thoele Oil for an undisclosed amount, according to an emailed announcement.
- Truesdale, Missouri-based Warrenton Oil — known for its FastLane c-stores — is getting Thoele Oil’s 10 retail locations in the deal, which expands Warrenton Oil’s footprint into St. Charles, St. Peters and O’Fallon, Missouri.
- The acquisition brings Warrenton Oil’s c-store count to about 65 sites, all of which are within about 60 miles west of St. Louis, Missouri.
Dive Insight:
FastLane was already one of the more prominent c-store chains in the greater St. Louis area prior to the acquisition. By obtaining 10 more stores, Warrenton Oil continues to plant its flag as a major player across the area.
The move coincides with Warrenton Oil launching an app-based subscription car wash service, which, as of November, was expected to go live in the first quarter of 2023. As of last year, 18 FastLane c-stores had car washes.
It’s unknown if or how many of the acquired Thoele Oil stores have car washes.
“The addition of these stores will allow us to better serve our customers and their communities throughout Missouri,” Wayne Baker, president and CEO of Warrenton Oil, said in the announcement. “We are excited to expand our convenience store business footprint and serve the many customers of Thoele Oil.”
For Thoele Oil, now was the right time to sell its assets, as its leadership is retiring from the c-store and petroleum business after nearly 70 years, Linda Thoele, president of Thoele Oil, said in the announcement.
Founded in 1972, Warrenton Oil’s FastLane c-stores offer touchless bathrooms, self checkout and drive-thrus. The company also owns WOCO Transportation as well as dog parks and hotels.
