Matrix Capital Markets Group, an independent investment bank, advised Alpena Oil Company on its sale to Blarney Castle Oil. Alpena is a northern Michigan grocery and convenience retailer. The company’s retail chain is comprised of six Louie’s Fresh Market full-service grocery stores and 14 traditional convenience stores and a cardlock.
Matrix provided merger and acquisition advisory services to Alpena Oil, which included valuation advisory, marketing the business through a confidential, structured sale process and negotiation of the sale. The transaction was managed by Spencer Cavalier, CFA, co-head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group; Andrew LoPresti, CPA, CFA, vice president; Nathan Wah, CPA, associate; and Jared de Perio, analyst.
“The Matrix team was extremely professional and competent, and worked tirelessly to generate a result that exceeded our expectations,” Johnston said. “I would like to thank Spencer, Andrew and Nate for all of their effort and guidance. Job well done!”
“Jere and Sharon built and operated a very successful retail chain that offered customers high value products in a clean and friendly environment,” Cavalier said. “Their creation of the Louie’s Fresh Market brand showcases how they adapted their retail offerings to meet the needs of consumers across different markets. We thank Jere and Sharon for trusting Matrix to advise them on the sale of their company in which they invested so much time and energy to create, build and grow.”
Tammera Diehm, Noreen Sedgeman, and Beth Harper of Winthrop & Weinstine served as legal counsel for Alpena Oil.
