Wedoany.com Report on Mar 19th, Recently, Shell has reached an agreement to sell Jiffy Lube International and its subsidiary Premium Velocity Auto to affiliates of Monomoy Capital Partners for $1.3 billion. This transaction marks Shell's strategic exit from the U.S. quick lube service sector while retaining its core lubricants brands.

According to the agreement, Shell's U.S. lubricants subsidiary, Pennzoil-Quaker State Company, will divest the Jiffy Lube brand and its network of franchised automotive service centers. The deal also includes Premium Velocity Auto, which operates over 360 stores across 20 U.S. states. As part of the agreement, Shell will enter into a long-term lubricants supply contract with Monomoy, ensuring that Jiffy Lube stores continue to use Shell products after the sale. The transaction is expected to be completed in the second half of 2026.

Shell executives stated that this move aligns with the company's overall strategy to optimize its downstream portfolio and allocate capital to higher-return opportunities. The President of Shell Downstream, Renewables and Energy Solutions emphasized, "By capitalizing on favorable market conditions, this transaction allows Shell to monetize a non-core asset and reinvest in areas that can generate higher returns."

Jiffy Lube has been part of Shell's U.S. lubricants business for over two decades, operating over 2,000 service centers across the United States and having franchised outlets in Canada, providing oil changes, lubrication services, and routine maintenance for passenger cars and light trucks. According to Shell data, Jiffy Lube accounts for approximately 6.5% of Shell's total lubricants volume in the United States and Canada.