Valvoline Instant Oil Change™ franchisee acquires 72 new service centers in Southern California

LEXINGTON, Ky. – The West Coast operating affiliate of Henley Enterprises, the largest franchisee of Valvoline Instant Oil Change, today announced it has completed the purchase of 72 EZ Lube oil change service centers in Southern California. The stores, located predominantly in Los Angeles, Orange County and San Diego, will be rebranded Valvoline Instant Oil Change.

The acquisition marks Boston-based Henley’s entry into the California market, which has more registered vehicles than any other state.

“What was really appealing to us about these stores was that they were heavily concentrated and in phenomenal locations, which gives us an immediate presence in the California marketplace,” said Don Smith, chief executive officer of Henley Enterprises. “Acquisition is Henley’s greatest vehicle for growth, and this is our largest acquisition to date.”

“We’re excited about Henley’s growth opportunities in the fast-paced Southern California market,” said Matt McKeown, vice president of franchising for Valvoline Instant Oil Change.  “As our largest and one of the oldest VIOC franchisees, they are a great success story. Henley’s focus on offering high-quality service and value has earned the trust of customers across the country, and we look forward to working with them as they rebrand these stores.”

Added McKeown: “As a franchisor, we’re very focused on growth, both with our existing franchisees and with independent operators who are looking to sell,” he said. “VIOC’s strength is that we offer scalable solutions for quick-lube operators who want to grow.”

Financial terms of the acquisition were not disclosed.

About Valvoline
Valvoline™, a brand of Ashland Inc. (NYSE: ASH), has been serving American motorists longer than any other motor oil. In addition to commercial and industrial lubricants, the Valvoline family of products includes Eagle One™ appearance products, Car Brite™ car restoration products, Zerex™ antifreeze, SynPower™ performance products, MaxLife products created for higher-mileage engines, and NextGen motor oil created with 50 percent recycled oil. With 882 locations throughout the United States, Valvoline Instant Oil Change™ is a leader in serving the quick lube market, and is looking for franchisee partners to establish a presence for the brand in markets across the country, including Austin, Texas; Tampa, Fla.; Seattle, Wash.and Richmond, Va.

About Henley Enterprises, Inc.
Don Smith co-founded Henley Enterprises, Inc. in 1987 specifically to develop and operate Valvoline Instant Oil Change (VIOC) facilities under franchise agreements with Valvoline Instant Oil Change Franchising, Inc., a subsidiary of Kentucky-based Ashland Inc. 

1989 – Opened first franchised Valvoline Instant Oil Change facility in Somerville, Mass..

2000 – Formed Mid-Atlantic regional operating affiliate. Henley operated 20 VIOC franchise locations by the end of 2000.

2006 – Formed Southeast regional operating affiliate. Henley operated 59 VIOC franchise locations by the end of 2006.

2009 – Formed Midwest regional operating affiliate. Henley operated 125 VIOC franchise locations by the end of 2009.

2011 – Formed West Coast regional operating affiliate. As of March 2012, the Henley Companies operate 196 VIOC franchise locations.

™Trademark of Ashland or its subsidiaries, registered in various countries

FOR FURTHER INFORMATION:
Gary Rhodes, Ashland Inc.
+1 859 815 3047
glrhodes@ashland.com

Matt Futrell, Henley Enterprises
+1 617 243 0404
mfutrell@vioc.net