A beloved brand in the US that has been serving Northern California customers for nearly 50 years is now getting out of the petroleum and convenience retail business.
Tooley Oil Company has sold its 12 convenience retail stores and seven car washes in the Sacramento metropolitan area to an undisclosed, confidential buyer.
The news was announced in a press release from Matrix Capital Markets Group, an “advisory-focused investment bank” based in Richmond, Virginia, which advised Tooley on the sale.
Tooley will retain its wholesale motor fuels distribution business, with the release stating the company, “plans to use proceeds from the transaction to support its continued growth.”
Full story Tooley Oil is selling its NorCal convenience stores and car washes
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