A little over a year after making its first quick lubes acquisition in Canada, Valvoline Inc. has reached a definitive agreement to acquire certain business assets of Minit Lube in Alberta. Calgary-based Minit Lube has six shops. Valvoline plans to purchase four of them, making them company-owned locations, and franchise the remaining two shops to Minit Lube’s existing owner.
All Minit Lube locations are expected to be rebranded as Valvoline Great Canadian Oil Change. The move would expand Valvoline’s existing quick lubes network to more than 1,350 company-owned and franchised locations across Canada and the United States.
“In 2018, the acquisition of Great Canadian Oil Change and Oil Changers provided us with the ideal opportunity to expand our quick lube service model outside the U.S.,” Valvoline Quick Lubes President Tony Puckett said in an Aug. 22 announcement. “The Minit Lube acquisition is significant for Valvoline because it will establish our first company-owned service centers in Canada.”
The transaction is expected to close during the fourth quarter of fiscal 2019 (the three months ending Sept. 30, 2019). Financial terms of the deal were not disclosed.