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Valvoline recently announced plans to expand its company-owned quick-lube network into the Las Vegas market beginning with two new acquisitions.
The company has signed a definitive agreement with regional operator Terrible Herbst to purchase 12 existing quick-lube centers, which will be rebranded as Valvoline Instant Oil Change (VIOC). The acquisition is expected to close by the end of March 2019.
“A core element of Valvoline's business strategy is to grow and strengthen our industry-leading quick-lube network through organic store expansion and high-quality acquisitions in both core and new markets,” said Tony Puckett, senior vice president and president of Valvoline Quick Lubes. “These two acquisitions will further expand our reach into markets where we previously had little presence.”
In addition, the company recently acquired three existing VIOC service centers from a franchisee. Financial terms of the acquisitions were not disclosed.
“Our acquisition of the three VIOC franchised stores will enable our franchisee to focus on expanding its operations in the Albuquerque and Denver markets,” Puckett added. “Overall, this base of 15 company-owned locations will give us a great foundation to build on within the growing Las Vegas market.”
For more information, visit www.valvoline.com.