May 21, 2018—Valvoline Inc. announced that it has signed a definitive agreement to acquire the business assets of Great Canadian Oil Change, which franchises 73 quick-lube stores in five Canadian provinces, primarily in British Columbia and Saskatchewan.
The acquisition is expected to be completed within 60 days. Financial terms were not disclosed.
Great Canadian Oil Change, based in Chilliwack, British Columbia, was founded in 1978 and is the third largest quick-lube system in Canada. The acquisition will expand Valvoline’s existing quick-lube network to more than 1,200 company-owned and franchised locations.
“Growing and strengthening our quick-lube network through organic store expansion and high-quality acquisitions in both core and new markets is a key business strategy for Valvoline,” said Sam Mitchell, chief executive officer. “The addition of Great Canadian Oil Change, with its established brand - which we intend to keep in place - and loyal customer base, provides us with an excellent opportunity to expand our quick-lube footprint outside the U.S.”