Shell to Sell Jiffy Lube and Premium Velocity to Monomoy for $1.3 Billion

By Josh Beckerman

Shell agreed to sell Jiffy Lube International and Premium Velocity Auto to Monomoy Capital Partners for $1.3 billion, enabling it to "monetize an asset that is not central to Shell's lubricant's portfolio in the U.S. and reinvest in opportunities that generate higher returns."

Jiffy Lube is part of Shell's Pennzoil Quaker State unit. The sale would include the Jiffy Lube brand and a network of franchised stores owned and operated by independent franchisees. Shell would retain its Pennzoil Quaker State, Rotella and other Shell lubricants brands.

Jiffy Lube makes up 6.5% of the volume of Shell's U.S. and Canada total lubricants business, Shell said.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

03-09-26 1315ET