Valvoline Inc. Achieves Milestone of Opening its 2,000th Location

Rhea-AI Summary

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.

Positive

• Reached milestone of 2,000 service center locations
• Progressing towards goal of 3,500 service centers in North America
• Ranked #1 in automotive preventive maintenance service providers on Entrepreneur's Franchise 500® 2024 list
• Ranked #11 on Forbes' Best Customer Service list
• Great Canadian Oil Change brand ranked #1 in J.D. Power's Canadian Customer Service Index for aftermarket service facilities

Negative

• None.

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 2,000^th location under the Valvoline Instant Oil Change^SM 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 2,000^th 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.

FAQ

How many service center locations has Valvoline Inc. (VVV) opened as of September 2024?

Valvoline Inc. (VVV) has opened its 2,000th service center location under the Valvoline Instant Oil Change℠ and Great Canadian Oil Change brands in September 2024.

What is Valvoline Inc.'s (VVV) target for service center locations in North America?

Valvoline Inc. (VVV) aims to expand its network to 3,500 service centers across the United States and Canada.

Where is Valvoline Inc.'s (VVV) 2,000th service center location?

Valvoline Inc.'s (VVV) 2,000th service center is a new, company-operated, two-bay location in Centerville, Ohio.

How did Valvoline Instant Oil Change rank on Entrepreneur's Franchise 500® 2024 list?

Valvoline Instant Oil Change ranked #1 in automotive preventive maintenance service providers on Entrepreneur's Franchise 500® 2024 list.