By Sacramento Business Journal

The Central Valley Fund arranged an $8.5 million mezzanine investment in Anabi Oil Corp. for the Upland-based company to expand Shell-branded gas stations into the Central Valley and Inland Empire.

Based in Davis and Fresno, the Central Valley Fund is a private investment fund focused on investments in the Central Valley. The fund invested $4.25 million into this round, and it was matched by co-investor Huntington Capital of San Diego.

Anabi will use the money to acquire Shell-branded retail stations and related wholesale distribution rights.

Founded in 1991 with a single gas station in Baldwin Park, Anabi has grown to have interests in 120 fuel-related properties in California.

⿿We are pleased to be a part of Anabi Oil⿿s expansion as it broadens its operating platform to include wholesale gasoline distribution,⿝ said Jose Blanco, partner with the Central Valley Fund, in a prepared release. ⿿As Shell Oil and other major diversified oil companies have divested retail stations and distribution assets as part of a heightened focus on exploration and production, opportunities have arisen for the better independent operators, like Sam and Rene Anabi, to purchase and accelerate the performance of these assets through their unique product and service models.⿝

Copyright 2010 American City Business Journals
Copyright 2010