Family-owned Tooley exits the channel after nearly 50 years of business.
Tooley Oil Co. has sold its petroleum marketing and convenience retail business to an undisclosed, confidential buyer, according to a statement from Matrix Capital Markets Group, which advised Tooley on the sale.
The transaction included 12 convenience retail stores and seven car washes. The company retained its wholesale motor fuels distribution business and plans to use proceeds from the transaction to support its continued growth…