Around the Industry: Ashland to Acquire Oil Can Henry's
On December 11, 2015, Ashland Inc. announced it has signed a definitive agreement to acquire Oil Can Henry’s International, Inc. (OCH). OCH operates and franchises a total of 89 quick lube stores in six states. The acquisition is expected to be complete by the first quarter of 2016.
Valvoline Instant Oil Change currently has a network of approximately 940 company-owned and franchise stores. The addition of OCH will mark Valvoline’s entry into the quick lube space in several Pacific Northwest markets.
“The addition of OCH offers attractive growth opportunities for Valvoline in Oregon, Washington and other select markets as we accelerate the expansion of our store network,” said Sam Mitchell, Ashland senior vice president and Valvoline president.
Valvoline president, Tony Puckett said, “We’re looking forward to working with the team at OCH to grow the business and build on their success.”