Bloomington, IL – After serving communities in Central Illinois and Florida for over 80 years, the Owens family is proud to announce the sale of their Freedom Oil Company convenience store chain, to Mizpah Ventures, LLC a Chicago, IL based company who operate convenience stores and fuel wholesale businesses in Illinois and Wisconsin stated Freedom Oil president Mike Owens.

Freedom Oil was founded in 1948 and grew from a few neighborhood stores into a network of 27 locations throughout Illinois and Florida. Their stores were always known for their friendly service and connection to the communities they served. Mike Owens, President and third generation of the Owens family said the sale of the stores was a bittersweet moment remembering the journey as to how the company had grown from a couple of convenience stores to its present day level. However after a lifetime in the convenience store business he knew the time was right to step away and pursue other opportunites. He extends a heartfelt thank you to all of the Freedom Oil’s loyal customers, dedicated employees and supportive partners who helped make the business so meaningful.

Terry Monroe president of American Business Brokers & Advisors, Ft Myers Beach, FL and Bill Fecht of WJF Services, Inc., Normal, IL provided merger and acquisition advisory services to Freedom Oil which included valuation advisory, marketing the business through a confidential process, and negotiation of the transaction.

Financial details of the transaction were not disclosed.