Shell Divests Jiffy Lube for $1.3 Billion

This transaction, occurring over 23 years after Jiffy Lube became part of Shell through the Pennzoil-Quaker State acquisition, includes the Jiffy Lube brand, its franchisee Premium Velocity Auto, and a network of over 2,000 independently operated stores. Shell emphasized that it will retain its core lubricants brands, including Pennzoil, Quaker State, and Rotella, along with their marketing, manufacturing, and distribution operations across the U.S. and Canada.

The company views this divestment as an opportunity to capitalize on a robust market, monetizing an asset that, despite its scale (representing 6.5% of Shell's U.S. and Canada total lubricants volume), is not central to its strategic lubricants portfolio. The proceeds are earmarked for reinvestment into higher-return opportunities, aligning with Shell's ongoing portfolio optimization efforts and capital allocation strategy.