Shell PLC has signed a deal to divest Jiffy Lube International Inc to Monomoy Capital Partners for around $1.3 billion.
“Monomoy will acquire Jiffy Lube® International (including the registered trademark), which operates more than 2,000 franchisees and company-owned and operated service centers across the U.S. and licensees in Canada”, the British energy giant said in an online statement. “Monomoy will also acquire Premium Velocity Auto LLC (PVA Group), the second-largest Jiffy Lube franchisee, with over 360 locations across 20 states”.
Jiffy Lube, part of Shell for over 20 years as a provider of lubrication, oil change and light repairs for cars and light trucks, comprises about 6.5 percent of Shell’s lubricants footprint in the U.S. and Canada, Shell said.
Shell said it would continue manufacturing, distributing and marketing lubricants in the two countries including by retaining the Pennzoil Quaker State and Rotella brands.
‘Few brands have the heritage and scale of Jiffy Lube”, Lee Mlotek, managing director of New York City-based investment firm Monomoy, said separately. “As the original pioneer of the fast oil change, Jiffy Lube reshaped the industry and remains the market leader today”.
Monomoy said, “The partnership combines Jiffy Lube’s leadership position in the automotive service industry with Monomoy’s history of providing operational support to branded retailers and automotive aftermarket businesses”.
The parties expect to complete the transaction by yearend, subject to closing conditions including regulatory approval.
The transaction is between Pennzoil Quaker State Co DBA SOPUS Products, part of Shell USA Inc, and a Monomoy affiliate through its Fund V.
“By capitalizing on a strong market opportunity, this divestment allows us to monetize an asset that is not central to Shell’s lubricants portfolio in the U.S. and reinvest in opportunities that generate higher returns”, said Machteld de Haan, Shell downstream, renewables and energy solutions president.
The disposition follows Shell’s launch last year of a $5-7 billion structural cost reduction target by 2028 compared to 2022. Shell said in the plan announced on investor day on March 25, 2025 that it would “pursue focused growth in our high-return mobility and lubricants businesses”.
Shell had reported $2.39 billion in divestment proceeds for 2025. Last year it sold Shell Petroleum Development Company of Nigeria, a petrochemical and base oils complex in Singapore and about 800 branded mobility sites.
To contact the author, email jov.onsat@rigzone.com
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