Aramco Closes $2.65 Billion Acquisition of Valvoline's Global Products Business

  • 6-Mar-2023
  • Journalist: Jaideep

Dhahran [Saudi Arabia]: Aramco has made a major move to become one of the world's leading integrated and branded lubricants players, with the completion of its acquisition of Valvoline Global Operations from Valvoline Inc. for an impressive $2.65 billion. Through this purchase agreement, announced on August 1, 2022, Aramco bolsters its position within the industry and continues to expand its global presence.

Valvoline Inc., the world leader in automotive and industrial solutions, has recently announced a new business partnership with Saudi Aramco. According to the agreement, Saudi Aramco will now own the Valvoline brand with respect to its products business while Valvoline Inc. will maintain ownership of the same brand with respect to its retail services business.

The two companies are committed to growing the Valvoline brand’s equity worldwide and combining their efforts for this purpose. The Global Operations of Valvoline, located at its headquarters in Lexington, Kentucky, is looking forward to introducing cutting-edge products and high-end services for its partners across the globe.

Mohammed Y. Al Qahtani, Aramco Executive Vice President of Downstream, stated: 'This acquisition will advance our international lubricants growth strategy, and leverage our global base oils production and R&D capabilities. It also provides an exciting opportunity to strengthen our relationship with original equipment manufacturers worldwide by extending the reach of Valvoline Global Operations as a preeminent company among multi-national lubricant brands, a position it has proudly held for over a century and a half. We look forward to welcoming the Valvoline Global Operations employees and brand, one of the most recognized names in the industry, into the Aramco family. At the same time, we expect Aramco's global network to provide an unmatched foundation for this historic brand's next chapter of development.'

Aramco, the world's leading energy company, has recently acquired a 150-year-old premium lubricants brand. This acquisition is set to enhance the presence of the brand on an international scale and will provide opportunities for greater growth and future integration into Aramco's portfolio.

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