Shell Agrees to Sell Jiffy Lube to Monomoy for $1.3 Billion

Shell Plc agreed to sell Jiffy Lube International and its subsidiary Premium Velocity Auto to an affiliate of Monomoy Capital Partners for $1.3 billion.

As part of this transaction, Shell USA subsidiary Pennzoil Quaker State Company has entered into a long-term lubricants supply agreement with Monomoy, according to a company statement on Monday. The sale includes the Jiffy Lube brand and a network of franchised stores which are owned and operated by independent franchisees, in addition to franchised stores that are owned and operated by PVA.