US-based Valvoline has entered a definitive agreement to purchase the business assets of Great Canadian Oil Change for an undisclosed amount.
Established in 1978, Great Canadian Oil Change franchises 73 quick-lube stores in five Canadian provinces, including British Columbia and Saskatchewan.
The transaction will expand Valvoline’s existing quick-lube network to more than 1,200 company-owned and franchised locations.
Valvoline CEO Sam Mitchell said: “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.
“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 US.”
The acquisition is scheduled to close within 60 days of the announcement.
Valvoline currently markets and supplies premium-branded lubricants and automotive services in more than 140 countries.
The company operates and franchises more than 1,100 Valvoline Instant Oil Change stores in the US, as well as markets lubricants and automotive chemicals.
Great Canadian Oil Change owner Trevor Weflen said: “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.
“Although the decision to sell was difficult, we are very confident that Valvoline is the right steward for the Great Canadian Oil Change brand and our franchisees going forward. We know Valvoline is dedicated to the growth and success of the brand and every franchisee.”