Loeder Oil based in Lake Mills, WI announced the sale of their nine convenience stores to Moe’s Mart, LLC of Dallas, TX after 46 years in the petroleum industry.
Loeder Oil has a long history with Bill Loeder beginning his career in 1969 with Amoco Fertilizer and was later transferred to the Heating Oil division in 1972 as an agent with one truck. In 1976 Amoco discontinued the agent relationship and replaced it with a jobbership relationship. Bill started operating the first garage/store in 1978 with the addition of delivering heating oil with 5 trucks and representing Lennox offering a full heating department.
In 1988 Dan Loeder joined the family business and in 1992 the decision was made to exit the heating oil and Lennox businesses and focus on the managing and growing of the convenience store concept ultimately growing the company to a total of 9 stores.
Both Bill Loeder and Dan Loeder say they have enjoyed the growing of the company and the business of owning and operating convenience stores but realized the time had come to exit the industry and pursue other opportunities.
Terry Monroe, founder and President of American Business Brokers & Advisors and Bill Fecht of WJF Services, Inc. provided merger and acquisition advisory services to Loeder Oil, which included valuation advisory, marketing and negotiation of the transaction.
|
