Valvoline Inc. announced plans to acquire 33 quick-lube service centers in Idaho, Missouri and Kansas in two separate acquisitions.
The company has signed a definitive agreement with L & F Enterprises (doing business as Einstein’s Oilery) to purchase 12 quick-lube service centers in the Boise, Idaho area. The Einstein’s Oilery service centers will be rebranded as Valvoline Instant Oil Change (VIOC) after closing of the transaction. The company has also signed a definitive agreement with its franchisee Westco Lube, Inc. to acquire 21 existing VIOC service centers in the greater Kansas City area and in Topeka and Wichita, Kansas. Both acquisitions are expected to close in early Q1 FY21. Financial terms for the acquisitions were not disclosed.
“The strength and resiliency of our stay-in-the-car service model and the tremendous efforts of our teams and franchisees have enabled Valvoline to continue to grow its quick-lube business even during the COVID-19 pandemic,” said Sam Mitchell, CEO, Valvoline. “Einstein’s Oilery has a tradition of exemplary customer service. Likewise, Westco Lube has established Valvoline as a trusted name in the communities it serves. Both acquisitions fit within our expanding network of company-owned service centers and we are proud to welcome them into the Valvoline corporate family.”
“When we were ready, we knew we wanted to sell to a company that was best-in-class,” said Michael Meuret, co-owner of Einstein’s Oilery. “After getting to know the Valvoline leadership team and culture, we knew we could trust Valvoline to continue our commitment to our employees and dedication to the customers we have proudly served since 2007.”
“When we look to add service centers into our network, it’s important to us that they share Valvoline’s commitment to its people, safety and world-class customer service,” said Tony Puckett, senior vice president and president, Valvoline Quick Lubes. “We’re happy that the Einstein’s Oilery team has entrusted us to expand on their great work, and we look forward to welcoming their team and guests and the opportunity to further grow the Valvoline service center network in Idaho.”
“I joined Valvoline as a franchisee more than 20 years ago, and looking back now, it was one of the best decisions I have ever made. Valvoline has been a tremendous business partner,” said Dick Jacobsen, owner, Westco Lube Inc. “I am thankful for the Westco team and their many contributions. They are truly like family to my wife, Julie, and me. Knowing the Valvoline culture as well as I do, I couldn’t be more comfortable with this transition and confident in the future success of all involved.”
“Our relationships with our team members and franchisees define our culture,” Puckett said. “Dick Jacobsen set the standard for our core values through his remarkable leadership and personal commitment to our collective success. I am excited about the opportunity to extend our service center growth further in the Missouri and Kansas markets.”
