Tooley Oil sells its retail convenience stores to focus on wholesale operations
Tooley Oil has sold its convenience store and petroleum marketing business, including 12 locations and seven car washes in Northern California. The transaction was facilitated by Matrix Capital Markets as an M&A advisor. Tooley will retain its wholesale motor fuels distribution segment and plans to use the proceeds from this sale for growth within that area. This move reflects a broader trend among independent convenience retailers exiting the market due to economic pressures, with several small-to-midsize operators selling assets in 2026. Founded in 1978, Tooley Oil had previously rebranded its stores under Mixx Market and car washes as CleanMixx before deciding to exit retail operations. Mick Tooley, president of the company, described the decision as bittersweet but emphasized excitement for future growth opportunities in wholesale. The sale is part of a wave that includes other retailers like Earnheart Oil and Fleming Brothers Oil.
Topics: convenience retail fuel distribution mergers and acquisitions