Valvoline Inc. to Refranchise 38 Company Stores; Welcomes New Franchise Partner Velocity Auto Care

Core Viewpoint - Valvoline Inc. plans to refranchise 38 existing Valvoline Instant Oil Change service centers to Velocity Auto Care, enhancing its network growth strategy and customer convenience [1][2][3]. Group 1: Company Strategy - The refranchising initiative is part of Valvoline's strategic priority to accelerate network growth, allowing for more service centers to be available to customers [2]. - This transaction marks Valvoline's third refranchising effort, following two transactions in fiscal year 2024 that converted 28 company stores to franchise in Las Vegas and Denver [3]. Group 2: Franchise Partner - Velocity Auto Care, the new franchisee, is a wholly owned portfolio company of Franchise Equity Partners, which operates over 750 storefronts across 33 states [2]. - The partnership aims to deliver quick and trusted service to customers in central and west Texas, leveraging Valvoline's established brand recognition [3]. Group 3: Company Overview - Valvoline Inc. operates more than 2,000 service centers across the U.S. and Canada, completing over 28 million services annually, including oil changes and maintenance services [5]. - The company employs over 11,000 team members focused on growing the core business and expanding the retail network [5].