Submitted by Cedric Fortemps, CFA – Co-Head of Downstream Energy & Conv. Retail Investment Banking
Redwood Oil Company, Inc. is a leading convenience retailer that operates 24 high-performing convenience stores throughout Northern California. The Company was founded in 1972 when Peter Van Alyea opened the first Redwood Market in Marin County, California. The store’s immediate success led to the addition of two more stores in the same year.
Throughout the years the company grew through a partnership with Barbieri & Son, along with multiple acquisitions. Two notable acquisitions were HR Gantner’s Beacon-branded stores and two Chevron jobberships, which laid the foundation for a long-lasting relationship with Chevron. In 1995 the Company launched Aztec Grill, a fresh, in-house, authentic Mexican food offering providing fresh made-to-order options for customers, which now operates within 17 of the stores.
Matrix was engaged to provide merger and acquisition advisory services to Redwood, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale.
Our objective was to customize, execute, and complete a confidential sale process that would allow the Company’s shareholders to realize maximum after-tax value.
Matrix provided merger and acquisition advisory services to Redwood, which included valuation advisory, marketing of the business through a confidential, structured sale process, and negotiation of the transaction.
Multiple competitive offers were received, and Jacksons Food Stores, Inc. was ultimately selected as the acquirer. Matrix assisted in the negotiation of the purchase agreement and coordinated the due diligence and closing process. The transaction with Jacksons Food Stores, Inc. closed in August 2025.
