Valvoline Inc., a leading worldwide supplier of premium branded lubricants and automotive services, has signed a definitive agreement to acquire the business assets of Oil Changers Inc., which has 31 franchised quick-lube centers in Ontario, Canada. All Oil Changers quick-lube centers will be rebranded as Great Canadian Oil Change.
The acquisition is expected to be completed 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.
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, Valvoline's 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 Ontario.”
“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 Canada.”
“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.”