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BELLEVILLE, Wis. and ANKENY, Iowa — Small operator Francois Oil is making a big impact in the merger and acquisition (M&A) space by selling five of its convenience stores to Casey's General Stores Inc.
Formerly known as The Station, the five sites will be rebranded to Casey's and will undergo improvements in the coming months following the final closing of the transaction, according to Casey's.
Terry Monroe of American Business Brokers & Advisors, based in Effingham, Ill., and Bill Fecht of W.J.F. Services Inc. based in Normal, Ill., provided M&A advisory services to Francois Oil.
Belleville-based Francois Oil operates 13 convenience stores and is a fuel wholesale distributor to customers in the Belleville and Madison area. The company was founded in 1939 by J.C. Francois, starting as a Cities Service Gas Station that sold and serviced Case Machinery before eventually selling automobiles.
Headquartered in Ankeny, Casey's operates 1,954 convenience stores in more than 10 states. As CSNews Online previously reported, Casey’s is taking a concentrated approach to growth in the state of Wisconsin.