Valvoline Completes Acquisition of Oil Changers in Canada

Source Press Release
Company Valvoline Inc 
Tags Asset Deals, Deals, Refining & Marketing Activities
Date October 31, 2018

The company's second quick lube acquisition in Canada adds 31 locations to its existing base of 72 Great Canadian Oil Change centers

Valvoline Inc. (NYSE: VVV), a leading worldwide supplier of premium branded lubricants and automotive services, today said that it has completed the previously announced acquisition of the business assets of Oil Changers Inc., which has 31 franchised quick lube centers in Ontario. The Oil Changers quick lube centers will be rebranded over time as Great Canadian Oil Change.

The acquisition expands Valvoline's existing quick lube network to approximately 1,270 company-owned and franchised locations in North America.

"Growing and strengthening our quick lube network through organic store expansion and high-quality acquisitionscontinues to be a key growth strategy for the company and I'm very pleased with the progress we've made in the past two years since becoming an independent company," said Sam Mitchell, chief executive officer."

The acquisition of Great Canadian Oil Change in July gave us a solid foundation to expand our footprint outside of the U.S. Oil Changers is an exceptionally well-run operation, with a reputation for excellent customer service in Ontario. We look forward to working with Oil Changers' franchisees to grow their business, add more locations and expand the scale and presence of Valvoline's Great Canadian Oil Change brand in Canada."

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd