MFA Oil Acquires Platte-Clay Fuels

The company announced its first acquisition of its 2024 fiscal year.

January 03, 2024

MFA Oil Company, a farmer-owned energy supply cooperative, announced the acquisition of Platte-Clay Fuels, a self-service retail petroleum company and a subsidiary of Platte-Clay Electric Cooperative. The acquisition, which closed on December 28, includes two fueling sites in Kearney and Platte City, MO.

The acquired fueling sites in Kearney and Platte City will become the latest additions to MFA Oil Company’s Petro-Card 24 network, with more than 180 locations in Missouri, Arkansas, Iowa and Kansas.

This is the first acquisition of MFA Oil’s 2024 fiscal year. In a press release, the company stated that it “will continue to evaluate strategic acquisition opportunities within its trade territory.”

“We are excited to bring additional fueling opportunities to our member-owners and customers in the northern Kansas City metro area,” says Kenny Steeves, senior vice president of MFA Oil operations. “We continue to expand our Petro-Card 24 network and broaden access to our convenient 24/7 fueling services.”

Dave Deihl, CEO and general manager of Platte-Clay Electric Cooperative, says the decision to sell Platte-Clay Fuels was not taken lightly.

“It was important to us to find a buyer with a cooperative business model,” Deihl says. “This opportunity will allow Platte-Clay to focus completely on our core business of providing the best, most reliable, electric service possible in today’s uncertain energy environment.”

MFA Oil Company is the ninth-largest propane retailer in the United States. Through a subsidiary, MFA Oil operates Break Time convenience stores in Missouri; APM, a wholesale fuel distributor and more.