August 4, 2021—Valvoline Instant Oil Change announced Tuesday it reached an agreement with franchisee Phoenix 27, LLC to acquire six franchise-owned Valvoline service centers in Kentucky.
Financial details of the acquisition have not been disclosed at this time per a news release from the company, though the deal is expected to close by the end of the 2021 fiscal year.
"When Steve Goddard, owner of Phoenix 27 LLC, made the difficult decision to sell, we knew it was the right fit to add these six service centers into Valvoline's established network of 49 Company-owned Kentucky locations," VIOC Operations VP Matthew Furcolo said in the release. "We thank Steve for entrusting the future of his business and employees to us."
