MFA Oil Company has acquired Elaine Petroleum Distribution, Inc., a refined fuels supplier based in Elaine, Arkansas. The purchase strengthens MFA Oil’s position in eastern Arkansas as the company expands its operating territory.
“Elaine Petroleum is a good strategic fit for our company and will allow us to expand our footprint southward from our existing operations in West Helena, Arkansas,” says Mark Fenner, MFA Oil president and CEO. “We expect this acquisition to enhance our service to agricultural customers in the Mid-South.”
In business since 1957, Elaine Petroleum is one of the leading suppliers of farm diesel in eastern Arkansas. The acquisition brings 1.5 million gallons of refined fuel sales annually.
Elaine Petroleum Distribution is MFA Oil’s second acquisition of its fiscal year which began September 1, 2015. The company previously announced the purchase of Lybarger Oil of Garnett, KS as its first acquisition of the year.
MFA Oil has acquired a total of eight companies in five states in the past 12 months. The company plans to continue evaluating acquisition opportunities in its existing market area and other states where it can expand its footprint.