Gainesville, Fla.-based Land O’Sun Management Corp., doing business as Fast Track, has sold its petroleum marketing, convenience retail and QSR businesses to Anabi Real Estate Development and its affiliates, Anabi/Rebel.
Fast Track is a leading Florida retailer, operating 17 c-stores, 10 co-located QSRs and two stand-alone QSRs in northern Florida.
Land O’Sun Management was founded in 1996 when local businessmen Alan Fogg, Richard Rentz and Stephen Fogg purchased 38 gas stations in northern Florida. After turning around their initial acquisition to become successful operating stores in just four years, the founders wanted to continue growing Land O’Sun and purchased 13 additional stores in 2000, which provided access to the QSR business.
Over the next 23 years, Land O’Sun began integrating national QSR brands into its stores, including Arby’s, Wendy’s, Dairy Queen and Subway.
In 2022, Land O’Sun opened its latest new-to-industry Fast Track store in Gainesville, Fla., which includes a car wash, beer cave and made-to-order deli. Over the last 28 years, through excellent leadership and execution, the original founders have built one of the premier petroleum marketing, convenience retail and QSR companies in Florida.
Matrix provided merger and acquisition advisory services to Land O’Sun Management Corp., which included valuation advisory, marketing the business through a confidential, structured sale process and negotiation of the sale.
“As a family business, deciding to sell is both an economic and emotional decision,” said Alan Fogg, president of Fast Track. “Our prior experience with Matrix, conducting periodic business evaluations of our company, gave us confidence that Matrix was the right partner for this transaction. The support they provided in presale planning and through the entire sale process proved our confidence was warranted.”
“Our relationship with Richard, Alan and Steve began close to a decade ago and since then, they’ve done a tremendous job strategically growing their business to make it what it is today,” said Cedric Fortemps, co-head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group. “We are honored to have advised them on the sale of the incredible company they’ve worked so hard to build.”
Based in Upland, Calif., Anabi/Rebel was founded by Sam Anabi in 1991 with one gas station. Over the years, the company has grown by buying and selling stations, converting bays into convenience stores, adding car washes, partnering with fast food brands and building ground up new-to-industry locations.
This growth has provided Anabi/Rebel with experience from the perspective of a buyer, seller, lease dealer, open dealer, franchisee, owner, contract operator and wholesale distributor.
Today, Anabi/Rebel continues to operate as a family-owned and -operated business with over 600 locations across 16 states, including multiple QSR brands.
