Valvoline Inc. is set to acquire Ottawa, Canada-based quick-lube franchise Oil Changers Inc., the company announced last Tuesday. This deal is the companys second quick-lube acquisition in Canada.
Financial terms were not disclosed. According to a press release, the transaction is expected to close during the first quarter of 2019.
Lexington, Kentucky-based Valvoline will take over all 31 Oil Changers locations, none of which used Valvoline-branded oils prior to the acquisition. Valvoline did not comment on which oils were previously offered at these locations.
The acquisition follows Valvolines purchase of Great Canadian Oil Change – Canadas third-largest quick-lube franchise – and its 72 locations in July. All Oil Changers sites will be rebranded as Great Canadian Oil Change, according to Valvolines press release.
A spokesperson declined to say if Valvoline plans more acquisitions in the country, but CEO Sam Mitchell said that acquisitions remain a part of the companys strategy.
One of our key business strategies is to grow and strengthen Valvolines quick-lube network through organic store expansion and high-quality acquisitions in both care and new markets, Mitchell said in the companys press release.
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 Ontario, Mitchell stated.
The acquisition brings Valvolines total quick-lube network across Canada and the U.S. up to 1,250 locations.