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Valvoline Oil Change Buys 56 Franchises

Valvoline Instant Oil ChangeValvoline Inc (NYSE:VVV) announced on Monday that it has completed its acquisition of 56 Valvoline Instant Oil Change franchised centers in northern Ohio from Michigan-based franchisee Henley Bluewater LLC.

These acquired franchises by the Lexington-based franchisor add to Valvoline’s 439 company-owned quick-lube centers out of the 1,070 oil change centers in the United States that hang its logo.

The franchisor points out that the purchases increase the number of its Midwest company-owned stores. Its disclosure documents show a system that has been growing in the U.S. for years, with a growth spurt in 2016 (see chart).

Valvoline also points out that its largest franchisees have signed development agreements that commit each to expand. Valvoline's largest franchisee, Massachusetts-based Henley Enterprises, which is parent company of Henley Bluewater in Michigan, signed an agreement with the franchisor that commits the franchisee to build 100 franchises in California, Mid-Atlantic and Northeast regions over the next six years.

“We are very pleased to close the transaction and to add these stores and the strong team behind them to our company operations,” said Sam Mitchell, Valvoline’s chief executive officer. “A core element of Valvoline’s strategy is to accelerate the growth of our industry-leading quick lube model. Our plan is to grow company stores through new store builds and acquisitions and to work closely with our franchisees on their growth opportunities.”

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Don Sniegowski is editor of Blue MauMau, the daily news journal for franchise & small business owners. Call him at +1 (270) 321-1268, tweet @bluemaumau or email don@bluemaumau.org.