Valvoline - VVV STOCK NEWS

Franchise Equity Partners (FEP) has announced a strategic partnership with Valvoline Inc. to acquire 38 company-owned stores in West Texas, including locations in Austin, San Antonio, El Paso, and surrounding areas. The stores will be operated under a newly formed entity called Velocity Auto Care. FEP has assembled a leadership team including Robert Fish as CEO, Ashish Chapagain as CFO, and Spencer Mason as VP of Operations. The partnership aims to strengthen Valvoline's brand presence and growth strategy across Texas while maintaining their focus on preventive automotive maintenance services.

Valvoline (VVV) reported strong fiscal year 2024 results with sales reaching $1.6 billion, up 12% year-over-year. The company achieved its 18th consecutive year of system-wide same-store sales growth, with SSS increasing 6.7%. Store count grew nearly 9% to 2,010 locations. Net income from continuing operations rose 8% to $215 million, while adjusted EBITDA increased 17% to $443 million. The company returned $227 million to shareholders through share repurchases.

For Q4 2024, sales grew 12% to $436 million with system-wide SSS up 5.4%. The company added 49 new stores and completed refranchising of 28 stores during the quarter. For FY2025, Valvoline expects 5-7% SSS growth and 160-185 new stores.

Valvoline Inc. (NYSE: VVV) announces plans to refranchise 38 Valvoline Instant Oil Change service centers to Velocity Auto Care, a portfolio company of Franchise Equity Partners. The service centers are located in Austin, San Antonio, El Paso, and west Texas. This marks Valvoline's third refranchising initiative, following two transactions in FY2024 that converted 28 company stores to franchises in Las Vegas and Denver. Velocity Auto Care, which operates over 750 storefronts across 33 states, will join as Valvoline's newest franchise partner.

Valvoline Inc. (NYSE: VVV) launches its annual fundraising campaign for Children's Miracle Network Hospitals from November 1-30, 2024, marking 15 years of partnership. The company has raised over $6 million to date. Customers at participating Valvoline Instant Oil Change and Great Canadian Oil Change locations can donate, with 100% of proceeds benefiting local children's hospitals. Donors receive a $10 discount coupon for future services. The campaign aims to raise $1.5 million across 1,400 service centers in the U.S. and Canada. Online donations are also accepted through helpmakemiracles.org/campaign/valvoline.

Valvoline (NYSE: VVV), a leader in preventive automotive maintenance, has announced it will release its fiscal fourth quarter 2024 financial results on November 19, 2024. The company will host a live audio webcast with analysts and investors at 9 a.m. ET on the same day. The webcast and slide presentation will be accessible through Valvoline's Investor Relations website, with a replay available shortly after the call.

Valvoline Instant Oil Change has secured the 40th position in the Franchise Times Top 400, a comprehensive ranking of the largest U.S. franchise systems. This achievement is based on global systemwide sales from the previous year and reflects Valvoline's commitment to growing its franchise network and supporting its partners.

Valvoline Inc. (NYSE: VVV) franchises over half of its Valvoline Instant Oil Change locations in the United States. These service centers offer quick, stay-in-your-car oil changes in about 15 minutes, along with a range of preventive maintenance services including tire rotations and fluid and battery replacements.

CEO and President Lori Flees emphasized the company's dedication to providing high-quality support to franchise partners and offering an attractive investment opportunity for both new and existing partners.

Valvoline Inc. (NYSE: VVV) has announced the planned retirement of its Chief Financial Officer, Mary Meixelsperger. She will continue as CFO until a successor is hired and will remain with the company during the transition period. Valvoline has initiated a comprehensive search for a new CFO, considering both internal and external candidates.

CEO Lori Flees expressed gratitude for Meixelsperger's leadership and contributions, highlighting her role in building the company. Meixelsperger joined Valvoline in 2016, just before its successful IPO and spinoff from Ashland Global Holdings. She previously served as CFO for DSW Inc. and Shopko Stores, and currently serves on the board of directors for Genesco Inc. and the Cincinnati branch board of The Federal Reserve Bank of Cleveland.

Valvoline Inc. (NYSE: VVV) has reached a significant milestone by opening its 2,000th location under the Valvoline Instant Oil Change℠ and Great Canadian Oil Change brands in September 2024. This achievement marks progress towards the company's goal of expanding its network to 3,500 service centers across the United States and Canada.

The 2,000th location is a new, company-operated, two-bay service center in Centerville, Ohio, representing the sixth Valvoline Instant Oil Change location in the Dayton metro area. Valvoline Instant Oil Change has been recognized as the #1 automotive preventive maintenance service provider on Entrepreneur's Franchise 500® 2024 list and ranked #11 on Forbes' Best Customer Service list. Additionally, Valvoline's Great Canadian Oil Change brand secured the top spot in J.D. Power's Canadian Customer Service Index for aftermarket service facilities.

Valvoline Great Canadian Oil Change has ranked highest among aftermarket service facilities in J.D. Power's 2024 Canada Customer Service Index–Long-Term Study. The study, conducted from May-June 2024, measured service usage and satisfaction of owners of vehicles from 4-12 years old, analyzing both warranty and non-warranty services.

The survey evaluated overall satisfaction based on five key factors: service quality, vehicle pick-up, service facility, service initiation, and service advisor. Great Canadian Oil Change scored 834 on a 1,000-point scale, based on responses from 8,750 vehicle owners.

Valvoline Inc. (NYSE: VVV) owns and franchises about 130 locations in five Canadian provinces. These service centers offer stay-in-your-car oil changes in approximately 15 minutes, along with various preventive maintenance services including tire rotations, fluid and battery replacements.