MFA Oil Acquires Propane Supplier Simmons Energy Solutions
September 1st, 2020
MFA Oil Company, a farmer-owned energy supply cooperative, acquired Simmons Energy Solutions, the propane business of Simmons Foods Inc. on September 1. The acquisition includes locations in Decatur, Arkansas and Jay, Oklahoma.
“The Simmons Energy acquisition fits well with the core geography we serve,” said Kenny Steeves, senior vice president of MFA Oil operations. “Our operational footprint overlaps with Simmons Energy and should contribute to the efficiency gains we hope to see through this acquisition. As a farmer owned cooperative, our focus on customer service will align well with the poultry growers and customers that we will be serving in northern Arkansas and Oklahoma.”
“As a food company, we have determined that propane operations are outside of our core business,” said David Jackson, chief operating officer of Simmons Foods. “We are confident that we leave our customers in good hands with MFA Oil and we will work together to ensure a seamless transition process.”
“We believe their business approach and culture is a good fit for our valued customers and team members,” Jackson added. “We are pleased that MFA Oil plans to extend job offers to the majority of team members currently working in this operation. Our Human Resources team will be assisting all affected team members with the transition.”
MFA Oil will continue to evaluate strategic acquisition opportunities in its existing market areas and other regions where it can expand its footprint.