Market Overview

Valvoline to Acquire Oil Changers, Its Second Quick-Lube Acquisition in Canada


Addition of 31 locations in Ontario will complement Valvoline's
existing base of 72 Great Canadian Oil Change centers

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 Oil
Changers Inc., which has 31 franchised quick-lube centers in Ontario.
The acquisition is expected to be complete during the first quarter of
fiscal 2019. Financial terms were not disclosed.

Oil Changers Inc., based in Ottawa, Ontario, was 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.
All Oil Changers quick-lube centers will be rebranded as Great Canadian
Oil Change. This acquisition will expand Valvoline's existing quick-lube
network to more than 1,250 company-owned and franchised locations across
Canada and the United States.

"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, 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

"Oil Changers is an exceptionally well-run operation, with a great base
of franchisees and an excellent reputation for customer service in
Ontario," said Tony Puckett, president, Valvoline Quick Lubes. "We are
excited that the Marin family plans to remain in the business and grow
their base of five stores. We look forward to working with them and all
of the franchisees to grow their respective businesses, add more
locations and expand Valvoline's Great Canadian Oil Change brand in

"Oil Changers has been a part of my family since 1996 when our father
started the business," said Tom Marin, owner and president of Oil
Changers Inc. "My sister, brother and I are proud that we could continue
to build Oil Changers into a business known for outstanding service to
our customers in Ontario. 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. We're excited
to join the Valvoline family as franchisees and look forward to the
longer-term growth opportunities that Valvoline can provide."

About ValvolineTM

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, the company's heritage
spans over 150 years, during which it has developed powerful brand
recognition across multiple product and service channels. Valvoline
ranks as the No. 3 passenger car motor oil brand in the DIY market by
volume. It also operates and franchises the No. 2 quick-lube chain by
number of stores in the United States with more than 1,150 Valvoline
Instant Oil ChangeSM centers and the No. 3 quick-lube chain
by number of stores in Canada with more than 70 Great Canadian Oil
Change locations. 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

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 (the "SEC"), 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 Forms 10-Q, which are available on Valvoline's
website at
or on the SEC's website at
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

View Comments and Join the Discussion!