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Shell Agrees to Sell Jiffy Lube to Monomoy for $1.3 Billion
Transaction Is Expected to Close in Second Half of Year
Shell Plc agreed to sell Jiffy Lube International and its subsidiary Premium Velocity Auto to an affiliate of Monomoy Capital Partners for $1.3 billion.
As part of this transaction, Shell USA subsidiary Pennzoil Quaker State Co. has entered into a long-term lubricants supply agreement with Monomoy. The sale includes the Jiffy Lube brand and a network of franchised stores that are owned and operated by independent franchisees, in addition to franchised stores that are owned and operated by PVA.
“This divestment allows us to monetize an asset that is not central to Shell’s lubricant’s portfolio in the U.S. and reinvest in opportunities that generate higher returns,” said Machteld de Haan, president of downstream, renewables and energy solutions at Shell.
The transaction is expected to close in the second half of 2026, subject to regulatory approval and closing conditions.
