California Retailer Sells 12 Stores

Tooley Oil Company has agreed to sell its petroleum marketing and convenience retail business to an undisclosed, confidential buyer, Matrix Capital Markets Group (who advised the sale) said.

The transaction included 12 convenience retail stores and seven car washes. The company retained its wholesale motor fuels distribution business and plans to use proceeds from the transaction to support its continued growth.

Tooley Oil’s stores are located throughout the Sacramento, California, metropolitan area. They market Shell, Chevron and the company’s proprietary Mixx-branded fuels.

Tooley Oil was founded in 1978, when Michael “Mick” C. Tooley purchased eight unbranded retail locations from Tosco. Throughout the 1980s, the company operated stores under the Tooley Oil brand before transitioning to Shell-branded fuels. In the 1990s, Mick’s two sons, David and Michael, joined the family business and helped drive the company’s continued growth.

Shortly thereafter, Tooley Oil became a wholesale distributor for Shell Oil Company, expanding the business beyond its retail operations. More recently, in 2024, Tooley Oil rebranded nearly all of its convenience stores under the proprietary “Mixx Market” banner.

“After nearly 50 years of our family being in the retail business, this is certainly a bittersweet moment for us. We are extremely proud of the business we built and especially grateful to the dedicated employees who helped make it successful,” said Mick Tooley, president of Tooley Oil. “While this closes an important chapter for our family, we’re excited about what’s ahead for Tooley Oil and the continued growth of our wholesale operations.”

Mergers and acquistitions