Warrenton Oil Co., owner and operator of FastLane Convenience Stores, has acquired Thoele Oil, a family-owned and operated chain of 10 c-stores based in St. Charles, Missouri.
The deal expands Warrenton Oil’s market area into St. Charles, St. Peters and O’Fallon, Missouri.
“The addition of these stores will allow us to better serve our customers and their communities throughout Missouri,” said Wayne Baker, president and CEO of Warrenton Oil. “We are excited to expand our convenience-store business footprint and serve the many customers of Thoele Oil.”
Linda Thoele, president of Thoele Oil, said her family started the business in 1956 and believes that now was the time for them to retire from the convenience-store business.
- Warrenton Oil/FastLane is No. 122 on CSP’s 2022 Top 202 ranking of U.S. convenience-store chains by size.
A family-owned and -operated company founded in 1972, Truesdale, Missouri-based Warrenton Oil operates 55 FastLane convenience stores throughout the state, in addition to WOCO Transportation LLC, hotels, and car and truck washes.
Terry Monroe, president and founder of American Business Brokers & Advisors, Effingham, Illinois, which provides merger and acquisition and advisory services in the sale of multi-site convenience stores and fuel distribution, exclusively advised Thoele Oil on the transaction.
By Greg Lindenberg on Feb. 27, 2023
