Shell completed the $1.3 billion sale of Jiffy Lube International and its subsidiary Premium Velocity Auto to Monomoy Capital Partners. The transaction includes the Jiffy Lube brand and a network of over 2,000 service centers across the United States and Canada.
This divestment supports Shell’s strategy to streamline its portfolio by offloading non-core assets. The company will now concentrate on its primary lubricant production and distribution operations.
Shell signed a long-term agreement to remain the lubricant supplier for the divested business. This move generates significant cash while allowing Shell to focus on higher-value brands like Pennzoil and Quaker State.