Shell plc has agreed to sell Jiffy Lube International and its subsidiary Premium Velocity Auto to an affiliate of Monomoy Capital Partners for $1.3 billion, marking a strategic exit from the U.S. quick-lube service business while maintaining its core lubricants brands.
The transaction, announced Monday, involves Pennzoil Quaker State Company, Shell’s U.S. lubricants subsidiary. divesting the Jiffy Lube brand and its network of franchised automotive service centers.
The deal also includes the sale of Premium Velocity Auto, the second-largest Jiffy Lube franchisee, which operates more than 360 locations across 20 U.S. states.
As part of the agreement, Shell will enter into a long-term lubricants supply arrangement with Monomoy, ensuring that Jiffy Lube locations continue to use Shell products after the sale. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions.
The $1.3 billion divestment enables Shell to monetize a non-core retail service business while preserving demand for its lubricant brands through a supply agreement with the new owner.
Full story Shell to sell Jiffy Lube network to Monomoy in $1.3 billion deal
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