British oil and gas company Shell Plc has entered into an agreement with Monomoy Capital Partners to sell Jiffy Lube International and its subsidiary Premium Velocity Auto (PVA) for $1.3 billion. This is reported in a press release from Shell.
As part of the deal, Shell's American subsidiary Pennzoil Quaker State Company entered into a long-term agreement with Monomoy to supply lubricants and reinvest funds in more profitable assets.
The deal includes the sale of the Jiffy Lube brand and a network of franchise stores that are owned by independent franchise companies, in addition to stores operated by PVA.
The completion of the transaction is expected in the second half of 2026, subject to regulatory approval and compliance with the usual closing conditions.
In addition, Shell plans to sell shares in Brazilian oil fields and a natural gas project in Australia and reinvest funds in more profitable assets in order to reduce costs and optimize its portfolio aimed at increasing value amid competition with large American companies.
Jiffy Lube has been part of Shell's U.S. lubricants business for 20 years and operates from deepwater exploration to fuel retailing in all 50 states.
Monomoy Capital Partners LLC is an American private equity firm in manufacturing, industry, distribution, and consumer goods in the United States. The headquarters is located in New York (USA).
Shell plc is a British multinational oil and gas company with headquarters in London (England). Shell shares are listed on the London Stock Exchange (LSE), Euronext in Amsterdam and the New York Stock Exchange.
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