Acquisition of battery distributor enables a new last-mile
delivery platform for Valvoline and an enhanced customer experience
for service centers and installers
LEXINGTON, Ky., May 24, 2022
/PRNewswire/ -- Valvoline Inc. (NYSE: VVV), a global leader in
vehicle care powering the future of mobility through innovative
services and products, announced today that it has purchased the
outstanding 50 percent interest in its VCA Solutions joint venture
from its former joint venture partner. VCA Solutions is a
distributor of top-tier automotive batteries and battery testing
equipment. The purchase was finalized, effective May 1.
Today, nearly all of the 290 million vehicles on U.S. roads have
lead-acid batteries*. By acquiring VCA Solutions, Valvoline is
uniquely positioned to help Valvoline Instant Oil
ChangeSM (VIOC) locations, Valvoline Express
Care™ stores, and installers meet the needs of consumers who
come to automotive service centers for preventive maintenance
services beyond a traditional oil change.
"Batteries play a critical role in vehicle reliability both in
vehicles today and in the future," said Jamal Muashsher, President, Global Products.
"Automotive installers, including VIOC service centers, have a
continuous need to service consumers' vehicles beyond oil changes.
The acquisition of VCA Solutions adds to our robust offering of
preventive maintenance products and solutions designed to meet our
customers' needs."
VCA Solutions was created in 2019 through an exclusive
partnership between Valvoline and Club Assist, a leading global
supplier of automotive lead-acid and AGM batteries. Today, nearly
1,300 VIOC company-operated and franchise-owned service center
locations use VCA for their battery solutions. Prior to the
acquisition, Valvoline had 50 percent ownership of VCA. Moving
forward, it will oversee full strategic direction and
operations.
"VCA Solutions will continue to support and grow the superior
standard of Valvoline products and offerings," says Chris Eckert, General Manager, Head of VCA
Business. "We will operate at the same high-level of service as we
did before. The VCA Solutions team is thrilled to fully join
Valvoline, a business that is aligned with the quality-focused
culture we pride ourselves on."
The acquisition enables new efficiencies and automotive
solutions for installers, Valvoline Retail Services company-owned,
franchise-owned and independently operated service centers, while
growing the product portfolio for hybrid and electric vehicles in
the future. Further, Valvoline customers will now have expanded
access to top-tier vehicle maintenance services, including battery
purchase, maintenance, and testing.
"VCA has delivered added customer value and business expansion
with their high-touch battery solution for the Valvoline service
center ecosystem," continues Muashsher. "With this business as part
of our offering, it enables us to service more customers now and
into the electrified future."
Learn more about how Valvoline is preparing customers,
installers, and franchisees for the future of mobility.
*Waste360.com, 2022.
About Valvoline
Valvoline Inc. (NYSE: VVV) is a global
leader in vehicle care powering the future of mobility through
innovative services and products for vehicles with electric, hybrid
and internal combustion powertrains. Established in 1866, the
Company introduced the world's first branded motor oil and
developed strong brand recognition and customer satisfaction
ratings over the years across multiple service and product
channels. The Company operates and franchises approximately 1,600
service center locations and is the No. 2 and No. 3 largest chain
in the U.S. and Canada,
respectively, by number of stores. With sales in more than 140
countries and territories, Valvoline's solutions are available for
every engine and drivetrain, including high-mileage and heavy-duty
vehicles, and are offered at more than 80,000 locations worldwide.
Creating the next generation of advanced automotive solutions,
Valvoline has established itself as the world's leading supplier of
battery fluids to electric vehicle manufacturers, offering tailored
products to help extend vehicle range and efficiency. To learn
more, or to find a Valvoline service center near you, visit
valvoline.com.
About Club Assist
As the North American division of a
global roadside and automotive support services company, Club
Assist is the preferred supplier of industry-leading automotive
lead-acid and AGM batteries, state-of-the-art battery testing and
diagnostic equipment, and tools related to battery replacement for
trusted motoring clubs and automotive services companies throughout
the U.S. and Canada. Owned and
supported by the strength and resources of Australian motoring
clubs, Club Assist is synonymous with automotive battery technology
expertise. By maintaining relationships with an international array
of strategic suppliers, Club Assist sources the highest quality
automotive battery products, which meet ISO9001 quality systems and
ISO14001 environment system accreditation. With a global presence,
Club Assist is committed to providing clients with advanced
products and services to keep them ahead of the rapidly evolving
automotive industry. To learn more, visit clubassist.com.
™ Trademark, Valvoline or its subsidiaries, registered in
various countries
SM Service mark, Valvoline or its subsidiaries,
registered in various countries
FOR FURTHER INFORMATION
Investor
Relations
|
Media Relations
|
Sean
TCornett
|
Michele
Sparks
|
+1
859.357.2798
|
+1
859.230.8097
|
scornett@valvolinecom
|
michele.sparks@valvolinecom
|
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SOURCE Valvoline Inc.