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Valvoline recently signed a definitive agreement to acquire the business assets of Oil Changers Inc. The acquisition, which is expected to be complete during the first quarter of 2019, will expand Valvoline's existing quick-lube network to more than 1,250 company-owned and franchised locations across Canada and the United States. Financial terms were not disclosed.
"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, Valvoline's 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."
Based in Ottawa, Ontario, Oil Changers has 31 franchised quick-lube centers, which will be rebranded as Great Canadian Oil Change. The company was originally 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.
"We have a lot of respect for the Valvoline Instant Oil Change name in the United States, as well as the Great Canadian Oil Change brand that Valvoline acquired in July," said Tom Marin, owner and president of Oil Changers Inc. "We're excited to join the Valvoline family as franchisees and look forward to the longer-term growth opportunities that Valvoline can provide."
For more information, visit www.valvoline.com.