Matrix Capital Markets Group advised Redwood Oil and its affiliates on the sale of its convenience retail assets to Jacksons Food Stores.
Matrix provided 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. The transaction was managed by Cedric Fortemps, co-head of Matrix’s downstream energy and convenience retail investment banking group; Andrew LoPresti, director; and Michael Corliss, analyst.
“For 53 years, the dedication of our people has been the foundation of our success,” Julie Van Alyea, CEO of Redwood, said. “As a family business, finding the right steward for the company we built was our top priority, and we are confident that Jacksons Food Stores will carry that legacy forward. We also want to thank the Matrix and Faegre teams for their invaluable support and guidance throughout this journey.”
“Over its more than 50 year history, the Van Alyea family built an incredible convenience retail business with a very unique and successful prepared food program in Aztec Grill,” Fortemps said. “We were honored to advise the family on the sale.”
Jeff Brown of Faegre Drinker Biddle & Reath served as legal counsel for the company.
