Warrenton Oil Co., which operates 37 FastLane locations throughout Central and Eastern Missouri, has acquired Abel Oil Co.
The deal includes 18 Abel Quik Shops, which will significantly expand Warrenton Oil’s presence in Audrain, Ralls, Monroe and Pike counties, according to a press release. Financial details of the deal, which is expected to close at the end of the year, were not disclosed.
“The addition of these stores will allow us to better serve our customers and their communities throughout northeast Missouri,” Wayne Baker, president and CEO of Warrenton Oil, said in the release. “We are excited to expand our farm and commercial fuel business footprint and serve the many customers of Abel Oil.”
Warrenton Oil media contact Mike Hafner said the company plans to change the name of Abel’s Quik Shops and to make other changes to bring the locations more in line with the FastLane brand. He could not give a timeline for when customers may see those changes, which could include new food options, dog washes and car washes. He said the Baker family, which owns Warrenton Oil, plans to keep all of the employees and locations of Abel Oil but will repurpose the headquarters, which is located outside of Louisiana, to be used as a satellite office and warehouse.
Abel Oil was founded in 1940 by the Abel brothers, Ray Abel, Alfred Abel and Charles Abel. In the 81 years since, the Abel family has continued to own and operate the business, with Mark Abel currently serving as president and Randy Anderson as CEO.
“We are well acquainted with Warrenton Oil Co. and the Baker family and are assured that their values and culture mirror ours. As Abel Oil Co.’s successor, our reputation and legacy, and our valued customers and vendors, will be in good hands,” Mark Abel said.