Tooley Oil Exits Convenience Store Retail Business After Nearly 50 Years
Sacramento-based Tooley Oil Company has sold its convenience store and car wash operations after nearly five decades in the retail business. The family-owned company, founded in 1978 by Michael 'Mick' C. Tooley, operated 12 Mixx Market stores and seven CleanMixx car washes before selling them to an undisclosed buyer. Matrix Capital Markets Group advised on the transaction. While exiting convenience retail is a bittersweet move for the family, they will continue operating their wholesale motor fuels distribution business using proceeds from the sale. The decision reflects broader challenges in the U.S. convenience store industry, including declining foot traffic and rising operational costs such as wages and credit/debit card fees. Despite growing food sales at these stores—reaching $341.2 billion in 2025—the sector faces increasing competition from fast-food chains and consumer concerns over fresh food safety. Tooley Oil's exit highlights the struggles of smaller operators, who must choose between costly store renovations or selling to larger competitors as retail conditions become more difficult.
Topics: asset sale business exit convenience retail retail industry trends