Valvoline Inc. has signed a definitive agreement to acquire the business assets of Great Canadian Oil Change – a franchise of some 73 quick-lube stores in five Canadian provinces.
The acquisition is expected to be completed by mid-July 2018.
Financial terms were not disclosed.
Great Canadian Oil Change, whose stores are primarily in British Columbia and Saskatchewan, is based in Chilliwack, B.C. Founded in 1978, it is the third largest quick-lube chain 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, Valvoline 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.”
“Owners Trevor and Carolynn Weflen have spent 40 years developing the Great Canadian Oil Change brand and building its reputation in the Canadian marketplace,” said Tony Puckett, president of Valvoline Quick Lubes. “We’ve developed a strong relationship with Great Canadian Oil Change over the years through our Canadian installer business team and blending and packaging plant in Mississauga, and look forward to working with Great Canadian Oil Change’s large and experienced franchise-owner base to further grow and improve the business. We believe there is significant opportunity for system growth through both support of franchisees and company-owned store expansion.”
Trevor Weflen, owner of Great Canadian Oil Change, said the decision to sell was a difficult one.
“Great Canadian Oil Change has been part of our family since 1978, and we are extremely proud of the brand we’ve built and the growth we’ve achieved,” he said. He added that he is confident Valvoline is the right steward for the company and its franchisees going forward.
“Valvoline is a 150-year-old company that has a long, successful history of taking care of its people, franchisees and customers,” he said. “We know Valvoline is dedicated to the growth and success of the brand and every franchisee.”