LEXINGTON, Ky., August 3, 2021 / PRNewswire / – Valvoline Inc. (NYSE: VVV), a leading global provider of premium branded automotive services and lubricants, today announced that it has signed a definitive agreement with its franchisee Phoenix 27, LLC to acquire six Valvoline Instant Oil Change franchisesSM (VIOC) rapid lubrication service centers located Kentucky. The acquisition is expected to be finalized in the fourth quarter of fiscal 2021. Financial terms of the acquisition were not disclosed.
“One of Valvoline’s primary business strategies is to continue to develop and strengthen our industry-leading retail services segment through organic store expansion and high-quality acquisitions in existing and new markets.” , said Matthieu furcolo, Vice President of Operations, Valvoline Instant Oil Change. “When Steve Goddard, owner of Phoenix 27 LLC, made the tough decision to sell, we knew this was the right person to add these six service centers to Valvoline’s established network of 49 company-owned businesses. Kentucky Locations. We thank Steve for entrusting us with the future of his company and its employees. “
Valvoline Inc. (NYSE: VVV) is a leading automotive service provider and distributor and supplier of premium branded lubricants worldwide, with sales in more than 140 countries. Founded in 1866, the company’s heritage spans over 150 years, during which time it has developed powerful brand recognition across multiple product and service channels. Valvoline operates and franchises more than 1,500 rapid lubrication locations and is the second largest chain in number of stores in United States under the instantaneous oil change ValvolineSM brand and chain n ° 3 in number of stores in Canada under the brand Valvoline Great Canadian Oil Change. It also markets Valvoline lubricants and automotive chemicals, including Valvoline EV performance fluids; Fully synthetic motor oil for hybrid vehicles Valvoline; Valvoline High Mileage motor oil with MaxLife technology for engines over 75,000 miles; Valvoline Advanced fully synthetic motor oil; High performance Valvoline Premium Blue ™ engine oil; Fluid for Valvoline multi-vehicle automatic transmission; and Zerex ™ antifreeze. To learn more, visit www.valvoline.com.
MT Brand, Valvoline or its subsidiaries, registered in various countries
SM Service mark, Valvoline or its subsidiaries, registered in various countries
Certain statements contained in this press release, other than statements of historical fact, including estimates, projections, statements relating to business plans and operating results of Valvoline are forward-looking statements within the meaning of the law. Private Securities Litigation Reform Act of 1995. Valvoline has identified some of these forward-looking statements with words such as “expects”, “estimates”, “expects”, “estimates”, “is likely”, “predicted”, ” projects ”,“ forecast ”,“ may ”,“ ”“ “should” and “intention” and the negative of these words or other comparable terminology. These forward-looking statements are based on Valvoline’s current expectations, estimates, projections and assumptions at the date on which such statements are made and are subject to risks and uncertainties which may lead to results materially different from those expressed or implied in the statements. forward-looking statements. . Additional information regarding these risks and uncertainties is described in the documents filed by the Company with the Securities and Exchange Commission (the “SEC”), including in the sections “Risk Factors” and “Discussion and Analysis by Management of the financial position and results of operations ”of Valvoline the latest periodic reports filed on Forms 10-K and 10-Q, which are available on the Valvoline website at http://investors.valvoline.com/ sec-filings or on the SEC website at http://sec.gov. Valvoline assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.
For more information
Sean T. Cornett
Senior Director, Investor Relations
Michèle Gaither Sparks
Senior Director, Corporate Communications
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SOURCE Valvoline Inc.