Valvoline to refranchise 38 Valvoline Instant Oil Change service center

Valvoline (VVV) 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. 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. 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.