The company continues its accelerated growth
toward goal of 3,500 service centers
LEXINGTON, Ky., Oct. 3, 2024
/PRNewswire/ -- Valvoline Inc. (NYSE: VVV), the quick, easy,
trusted leader in preventive automotive maintenance, announces that
in September it opened its 2,000th location under the
Valvoline Instant Oil ChangeSM and Great Canadian Oil
Change brands. This advances the Company's efforts to expand its
network of services centers to 3,500 in the United States and Canada.
"I am proud that we are bringing our quick, easy, trusted
service to more customers," said Lori
Flees, Valvoline Inc. President and Chief Executive Officer.
"We are well on our way to our target of opening 3,500 service
centers across North America.
Thank you to the teams at Valvoline and our franchise partners who
are working to deliver this accelerated network growth."
The 2,000th location is a new, company-operated,
two-bay service center located in Centerville, Ohio, and marks the sixth
Valvoline Instant Oil Change location in the Dayton, Ohio, metro area. Information about
the new location's services, wait times, and hours of operation can
be found at vioc.com.
Valvoline Instant Oil Change ranked #1 in automotive preventive
maintenance service providers on Entrepreneur's Franchise
500® 2024 list and #11 on Forbes' Best Customer Service
list, ranking the top 300 brands providing outstanding customer
service. Recently, Valvoline's Great Canadian Oil Change brand
ranked #1 in J.D. Power's Canadian Customer Service Index for
aftermarket service facilities.
About Valvoline Inc.
Valvoline Inc.
(NYSE: VVV) is the quick, easy, trusted leader in
automotive preventive maintenance. Valvoline Inc. is
creating shareholder value by driving the full potential in our
core business, accelerating network growth and innovating to meet
the needs of customers and the evolving car parc. With
approximately 2,000 service centers throughout North America, Valvoline Inc. and
our franchise partners keep customers moving with our 4.6 out of 5
star* rated service that includes 15-minute stay-in-your-car oil
changes; battery, bulb and wiper replacements; tire rotations; and
other manufacturer recommended maintenance services. In fiscal year
2023, Valvoline's network delivered approximately 27
million services to generate $1.4
billion in revenue from $2.8
billion in system-wide store sales, marking 17 years of
consecutive system-wide same-store sales growth. At
Valvoline Inc., it all starts with our people, including our
more than 10,000 team members and strong, long-standing franchise
partners. We are proud to be an eleven-time winner of the BEST
Award for training excellence and a top-rated franchisor in our
category by Entrepreneur and Franchise Times. To learn more, or to
find a service center near you, visit
vioc.com.
Forward-Looking Statements
Certain statements herein,
other than statements of historical fact, are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements may include,
without limitation, executing on its growth strategy to create
shareholder value by driving the full potential in the Company's
core business, accelerating network growth and innovating to meet
the needs of customers and the evolving car parc; realizing the
benefits from the sale of Global Products; and future opportunities
for the remaining stand-alone retail business; and any other
statements regarding Valvoline's future operations, financial or
operating results, capital allocation, debt leverage ratio,
anticipated business levels, dividend policy, anticipated growth,
market opportunities, strategies, competition, and other
expectations and targets for future periods. Valvoline has
identified some of these forward-looking statements with words such
as "anticipates," "believes," "expects," "estimates," "is likely,"
"predicts," "projects," "forecasts," "may," "will," "should," and
"intends," and the negative of these words or other comparable
terminology. These forward-looking statements are based on
Valvoline's current expectations, estimates, projections, and
assumptions as of the date such statements are made and are subject
to risks and uncertainties that may cause results to differ
materially from those expressed or implied in the forward-looking
statements. Additional information regarding these risks and
uncertainties are described in the Company's filings with the
Securities and Exchange Commission (the "SEC"), including in the
"Risk Factors," "Management's Discussion and Analysis of Financial
Condition and Results of Operations," and "Quantitative and
Qualitative Disclosures about Market Risk" sections of Valvoline's
most recently filed periodic reports on Forms 10-K and 10-Q, which
are available on Valvoline's website at
http://investors.valvoline.com/sec-filings or on the SEC's
website at http://www.sec.gov. Valvoline assumes no obligation to
update or revise these forward-looking statements for any reason,
even if new information becomes available in the future, unless
required by law.
* Based on a survey of more than 900,000 Valvoline Instant Oil
Change℠ customers annually
™ Trademark, Valvoline Inc., or its subsidiaries, registered in
various countries
SM Service mark, Valvoline Inc., or its
subsidiaries, registered in various countries
® Registered tradedmark owned by a third party
For Further Information
Investor Inquiries
Elizabeth
B. Clevinger
+1 (859) 357-3155
IR@valvoline.com
Media Inquiries
Angela
Davied
+1 (877) 508-0832
media@valvoline.com
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SOURCE Valvoline Inc.