Redwood Oil Company Sold to Jacksons Food Stores: Matrix’s Expert Guidance in a Major Industry Deal – Fuels Market News

Redwood Oil Company has recently sold its convenience retail assets to Jacksons Food Stores, with advice from Matrix Capital Markets Group. Based in Rohnert Park, California, Redwood has been a key player in the convenience store sector, operating 24 stores across Northern California. A standout feature of these stores is their popular Aztec Grill, which serves fresh Mexican food.

The company’s story began in the early 1970s when Peter Van Alyea started his career at Standard Oil. He opened his first gas station in Marin County, California, which quickly gained popularity. By the end of that year, he already had three stores. In 1979, Peter teamed up with Barbieri & Son to expand by acquiring HR Gantner’s Beacon-branded stores and Chevron franchises, establishing a lasting partnership with Chevron.

A significant moment came in 1997 when Redwood introduced Aztec Grill, offering made-to-order Mexican dishes in 17 of its locations today. In the early 2000s, after his partner’s retirement, Peter shifted the company’s focus solely to retail. His daughter, Julie Van Alyea, became CEO in 2004 and worked to modernize the brand and incorporate new technology, helping Redwood become one of the top convenience retailers on the West Coast.

Matrix played a crucial role in the sale by providing merger and acquisition advisory services, including valuation and negotiation. Key team members included Cedric Fortemps, Andrew LoPresti, and Michael Corliss.

Julie Van Alyea shared her gratitude, stating, “For 53 years, our team’s hard work has been the backbone of our success. It’s important that our family business is handed to someone who shares our values, and we’re excited for Jacksons Food Stores to continue our legacy.”

Cedric Fortemps expressed admiration for the Van Alyea family’s achievements, noting the distinctive Aztec Grill program developed over the years.

This sale highlights the evolving landscape of the convenience retail industry. According to recent market trends, convenience stores are adapting quickly to consumer demands for fresh food options. In fact, a 2022 report by the National Association of Convenience Stores found that ready-to-eat meals now account for about 20% of in-store sales.

The shift towards offering more diverse food options isn’t just a trend; it’s a necessity as competition grows. As convenience stores face pressure from grocery delivery services and meal kits, adapting to consumer preferences is critical for survival in today’s market.

In conclusion, Redwood Oil’s new chapter with Jacksons Food Stores not only underscores a family legacy but also reflects the industry’s progressive shift towards fresh, quality food offerings. As the convenience retail space continues to evolve, monitoring these changes will be essential for anyone interested in the market’s future.

For further insights, you can check out the National Association of Convenience Stores for the latest industry statistics.



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