Matrix Capital Markets Group, Inc. has advised C&J Cox Corporation and its affiliates (“Cox”) on the sale of select convenience store assets to Anabi Oil Corporation. Based in Pleasanton, California, Cox is a leading convenience retailer operating high-quality stores in the Tri-Valley and Lake Tahoe areas. The transaction officially closed on November 12th.
Cox Family Stores began in 1976 when Carl Cox opened his first store in Dublin, California. For nearly 50 years, Cox has focused on delivering excellent customer service, clean and well-maintained stores, high-quality motor fuels, and fully stocked shelves. The sale to Anabi included nine stores in the Tri-Valley region and three stores in Lake Tahoe. These stores operate under the Cox Family Stores brand and sell fuels from Shell, Chevron, and Valero. Cox will continue to operate two Tri-Valley locations, which were not part of the sale.
Anabi Oil Corporation, a family-owned company based in Upland, California, was founded in 1991. The company runs a broad mix of gasoline stations, convenience stores, foodservice locations, and car washes across the U.S. Anabi supplies major fuel brands, including Shell, Exxon, 76, and Sinclair, and manages both company-operated and dealer-operated retail sites.
Anabi also owns the Rebel convenience store brand, known for its modern design, strong merchandising, and focus on a high-quality customer experience.
Sam Anabi, President of Anabi Oil, said, “The Cox family built one of Northern California’s most respected convenience store networks. We are honored to continue that legacy. These stores were already run with pride and discipline, so the transition has been smooth. Strong teams remain in place, and service continues without interruption. We are proud to welcome these stores into our family.”
Matrix provided full merger and acquisition advisory services to Cox, including business valuation, marketing through a confidential sale process, and negotiation support. The transaction team included Vance Saunders, CPA, Managing Director; Andrew LoPresti, CFA, CPA, Director; Michael Tucker, CFA, Vice President; and William Dickinson, Analyst.
Mr. Saunders commented, “Carl and his team built an exceptional business. These stores are some of the best in their markets because of Cox’s dedication to customer experience. We are proud to have assisted Carl and his family with this transaction and thankful for the support of Don Maday of Maday Consulting, who served as project manager for Cox.”
Legal support for the transaction came from Otto Konrad of Williams Mullen for Cox, and Fred Whitaker and Ashley Bolduc of Cummins & White, LLP for Anabi.
About Matrix’s Downstream Energy & Convenience Retail Investment Banking Group
Matrix’s Downstream Energy & Convenience Retail Investment Banking Group is nationally recognized for advising companies in downstream energy and multi-site retail sectors. This includes convenience retail, petroleum marketing and distribution, propane and heating oil distribution, lubricants, petroleum logistics, terminals, car washes, and quick-service restaurants.
The team leverages deep sector experience to handle complex M&A transactions, capital raises, valuations, special situations, and strategic planning. Since 1997, they have completed over 300 engagements.
About Matrix Capital Markets Group, Inc.
Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory-focused investment bank headquartered in Richmond, VA, with an additional office in Baltimore, MD. Matrix provides M&A and financial advisory services to privately held, private-equity owned, not-for-profit, and publicly traded companies. Services include company sales, recapitalizations, debt and equity capital raises, carve-outs, management buyouts, valuations, and fairness opinions.
Matrix’s sector-focused advisory teams support clients in automotive aftermarket, downstream energy & convenience retail, and outdoor recreation & marine, with additional teams covering business services, consumer products, diversified industrials, restaurants, and transportation & logistics.
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