Valvoline Completes the Acquisition of Great Canadian Oil Change
With 73 franchised stores in five provinces, Great Canadian Oil Change becomes Valvoline’s largest quick-lube brand in
Canada
Valvoline Inc. (NYSE: VVV), a leading worldwide supplier of premium branded lubricants and automotive services, today said that
it has completed the previously announced acquisition of the business assets of Great Canadian Oil Change Franchising Ltd., the
third-largest quick-lube system in Canada.
The acquisition expands Valvoline’s existing quick-lube network to more than 1,200 company-owned and franchised locations in
North America.
“Growing and strengthening our quick-lube network through organic store expansion and high-quality acquisitions in both core and
new markets is a key growth strategy for the company,” said Sam Mitchell, chief executive officer. “Great Canadian Oil Change, with
its established brand and loyal customer base, is Valvoline’s first international quick-lube acquisition and provides us with an
excellent opportunity to expand our quick-lube footprint outside the U.S.”
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, the No. 2 quick-lube chain by number of stores in the United States and
the No.3 quick-lube chain by number of stores in Canada. The company operates and franchises more than 1,140 Valvoline Instant Oil
ChangeSM centers in the U.S. and more than 70 Great Canadian Oil Change locations in Canada. 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 Valvoline'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.
Media Relations:
Valerie Schirmer, +1-859-357-3235
vschirmer@valvoline.com
or
Investor Relations:
Sean T. Cornett, +1-859-357-2798
scornett@valvoline.com
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