Valvoline to Acquire Great Canadian Oil Change, its First International Quick-Lube Acquisition
Great Canadian Oil Change, which has 73 franchised stores in five Canadian provinces, will become Valvoline’s largest
quick-lube brand in Canada
Valvoline Inc. (NYSE: VVV), a leading worldwide supplier of premium branded lubricants and automotive services, today announced
that it has signed a definitive agreement to acquire the business assets of Great Canadian Oil Change, which franchises 73
quick-lube stores in five Canadian provinces, primarily in British Columbia and Saskatchewan. The acquisition is expected to be
completed within 60 days. Financial terms were not disclosed.
Great Canadian Oil Change, based in Chilliwack, British Columbia, was founded in 1978 and is the third largest quick-lube system
in Canada. The acquisition will expand Valvoline’s existing quick-lube network to more than 1,200 company-owned and franchised
locations.
“Growing and strengthening our quick-lube network through organic store expansion and high-quality acquisitions in both core and
new markets is a key business strategy for Valvoline,” said Sam Mitchell, chief executive officer. “The addition of Great Canadian
Oil Change, with its established brand – which we intend to keep in place – and loyal customer base, provides us with an excellent
opportunity to expand our quick-lube footprint outside the U.S.”
“Owners Trevor and Carolynn Weflen have spent 40 years developing the Great Canadian Oil Change brand and building its
reputation in the Canadian marketplace,” said Tony Puckett, president, Valvoline Quick Lubes. “We’ve developed a strong
relationship with Great Canadian Oil Change over the years through our Canadian installer business team and blending and packaging
plant in Mississauga, and look forward to working with Great Canadian Oil Change’s large and experienced franchise-owner base to
further grow and improve the business. We believe there is significant opportunity for system growth through both support of
franchisees and company-owned store expansion.”
“Great Canadian Oil Change has been part of our family since 1978, and we are extremely proud of the brand we’ve built and the
growth we’ve achieved,” said Trevor Weflen, owner of Great Canadian Oil Change. “Although the decision to sell was difficult, we
are very confident that Valvoline is the right steward for the Great Canadian Oil Change brand and our franchisees going forward.
Valvoline is a 150-year-old company that has a long, successful history of taking care of its people, franchisees and customers. We
know Valvoline is dedicated to the growth and success of the brand and every franchisee.”
About Valvoline TM
Valvoline Inc. (NYSE: VVV) is a leading worldwide marketer and supplier of premium branded lubricants and automotive services,
with sales in more than 140 countries. Established in 1866, Valvoline's heritage spans over 150 years, during which it has
developed powerful brand recognition across multiple product and service channels. The highly trusted brand ranks as the No. 3
passenger car motor oil brand in the DIY market by volume and the No. 2 quick-lube chain by number of stores in the United States.
The company operates and franchises more than 1,100 Valvoline Instant Oil Change℠ centers in the United States. It also
markets Valvoline lubricants and automotive chemicals, including the new Valvoline™ Modern Engine Full Synthetic Motor
Oil, which is specifically engineered to protect against carbon build-up in Gasoline Direct Injection (GDI), turbo and other
engines manufactured since 2012; Valvoline High Mileage with MaxLife technology motor oil for engines over 75,000 miles; Valvoline
Synthetic motor oil; and Zerex™ antifreeze. To learn more, visit www.valvoline.com.
Forward-Looking Statements
Certain statements in this news release, other than statements of historical fact, including estimates, projections, statements
related to the company’s business plans and operating results are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Valvoline has identified some of these forward-looking statements with words such as
“anticipates,” “believes,” “expects,” “estimates,” “is likely,” “predicts,” “projects,” “forecasts,” “may,” “will,” “should” and
“intends” 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 as of the date such statements are made, and are subject
to risks and uncertainties that may cause results to differ materially from those expressed or implied in the forward-looking
statements. Additional information regarding these risks and uncertainties are described in the Company’s filings with the
Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” sections of Valvoline’s most recently filed periodic reports on Forms 10-K and Form 10-Q,
which are available on Valvoline’s website at http://investors.valvoline.com/sec-filings. Valvoline assumes no obligation to update or revise these
forward-looking statements for any reason, even if new information becomes available in the future.
TM Trademark, Valvoline or its subsidiaries, registered in various countries
SM Service mark, Valvoline or its subsidiaries, registered in various countries
Valvoline Inc.
Investor Relations
Sean T. Cornett, +1 859-357-2798
scornett@valvoline.com
or
Media Relations
Valerie Schirmer, +1 859-357-3235
vschirmer@valvoline.com
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