This is the third refranchising initiative by Valvoline after recently converting 28 company stores to franchise in Las Vegas and Denver
Lexington, Ky.—Valvoline Inc. has announced it intends to refranchise 38 existing Valvoline Instant Oil Change service centers to a new franchisee, Velocity Auto Care. The service centers are located in Austin, San Antonio, El Paso and west Texas.
This transaction will be the third refranchising initiative by Valvoline Inc. The company completed two transactions in fiscal year 2024, converting a total of 28 company stores to franchise in the growing markets of Las Vegas and Denver.
“One of our strategic priorities is accelerating our network growth,” said Lori Flees, Valvoline Inc. President and Chief Executive Officer. “We are pleased to have franchisees that can expand select markets more rapidly than the company was planning. More service centers, whether owned and operated by the company or a franchise, deliver more convenience for our customers, more opportunities for our team members, and more value to our shareholders. We look forward to many years of outstanding partnership with our newest franchisee, Velocity Auto Care.”
The new franchise partner, Velocity Auto Care, is a wholly owned portfolio company of Franchise Equity Partners which owns a portfolio of 10 different franchise companies operating quick-service restaurants, residential home services, auto dealerships, and more. In total, Franchise Equity Partners operates more than 750 storefronts across 33 states.
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