728 banner ad

728 banner ad
220 banner ad

220 banner ad

Valvoline to Acquire Oil Changers, 2nd Acquisition in Canada

| September 6, 2018

Valvoline

Valvoline Inc. (NYSE: VVV), a leading worldwide supplier of premium branded lubricants and automotive services, announced that it has signed a definitive agreement to acquire the business assets of Oil Changers Inc., which has 31 franchised quick-lube centers in Ontario. The acquisition is expected to be complete during the first quarter of fiscal 2019. Financial terms were not disclosed.

Oil Changers Inc., based in Ottawa, Ontario, was founded in 1996 by Dan Marin and is now owned by his three children, who currently operate five locations and plan to remain in the quick lube business as franchisees. All Oil Changers quick-lube centers will be rebranded as Great Canadian Oil Change. This acquisition will expand Valvoline’s existing quick-lube network to more than 1,250 company-owned and franchised locations across Canada and the United States.

“One of our key business strategies is to grow and strengthen Valvoline’s quick-lube network through organic store expansion and high-quality acquisitions in both core and new markets, and we have made excellent progress on this strategy since becoming an independent company,” said Sam Mitchell, chief executive officer. “The acquisition of Great Canadian Oil Change in July provided us with the perfect opportunity to expand our quick-lube footprint outside the U.S. Now, with the acquisition of Oil Changers, we look forward to increasing our scale and brand presence in Canada by broadening our retail footprint in Ontario.”

 

Category: Fuel & Oil, General Update, News

Comments are closed.