Shell agreed to sell Jiffy Lube International and its subsidiary Premium Velocity Auto to an affiliate of Monomoy Capital Partners for $1.3 billion, the Anlgo-Dutch energy giant announced in a press release this week. The Jiffy Lube brand is one of the most recognized names in quick-lube retailing.
The transaction ends more than two decades of ownership and marks the energy major’s exit from the U.S. quick-lube retail services sector. The deal is expected to close in the second half of 2026, subject to regulatory approvals.
The sale reflects a broader effort by the company to streamline its portfolio and sharpen its focus on core lubricants activities.
Jiffy Lube is a small part of Shell’s lubricants operations in North America. The network accounts for about 6.5% of the company’s combined lubricants volumes in the United States and Canada. The transaction will be done through Pennzoil Quaker State, which has signed a long-term supply deal with Monomoy Capital Partners to continue providing Shell-branded lubricants across the Jiffy Lube network. That arrangement ensures continuity of products such as Pennzoil and Quaker State oils at service locations after the change in ownership.
The chain has more than 2,000 service centers across the United States, including franchised and company-owned outlets, and also has licensees in Canada. The sites offer oil changes, lubrication services and light vehicle maintenance for passenger cars and light trucks.
Premium Velocity Auto, part of the transaction, is the second-largest franchisee in the Jiffy Lube system. The company runs more than 360 outlets in 20 U.S. states, operating company-owned locations within the wider franchise network. Market estimates suggest Jiffy Lube holds roughly 14% of the U.S. oil-change services market by volume.