Shell agreed to sell Jiffy Lube International to private equity firm Monomoy Capital Partners for $1.3 billion.
The transaction includes the Jiffy Lube brand and a network of more than 2,000 franchised and company-owned service centers. The deal also encompasses the franchisee Premium Velocity Auto, LLC.
Shell will maintain a business relationship through a long-term lubricants supply agreement with the new owner. This divestment aligns with Shell's strategy to focus its portfolio and generate higher returns.
The company intends to reinvest the sale proceeds into more profitable ventures. Shell will retain its other major lubricant brands, including Pennzoil and Rotella.
The transaction is anticipated to close in the second half of 2026, pending regulatory approvals.