Shell subsidiary sells Jiffy Lube and Premium Velocity Auto to Monomoy for $1.3 billion while retaining core lubricant brands
Pennzoil Quaker State Company, operating as SOPUS Products and functioning as a wholly owned subsidiary of Shell USA, Inc., has announced a strategic agreement to divest the business operations of Jiffy Lube International (JLI) along with its subsidiary Premium Velocity Auto LLC (PVA). The buyer is an affiliate of the private investment firm Monomoy Capital Partners, and the total transaction value has been set at approximately $1.3 billion. Alongside the divestment, Pennzoil Quaker State Company and Monomoy have established a long-term agreement for lubricants supply, ensuring continued collaboration between the companies after the completion of the sale.
The agreement covers the transfer of the well-known Jiffy Lube brand and its associated franchise network. This network consists of a large number of franchised service centers that are primarily owned and managed by independent franchise operators. In addition, the deal includes the franchised outlets currently owned and operated by Premium Velocity Auto. Jiffy Lube service centers are widely recognized for providing lubrication services, oil changes, and light automotive repairs for cars and light trucks under the trusted “Jiffy Lube” name.
Despite the divestment, Shell will continue to maintain ownership of its core lubricant brands such as Pennzoil, Quaker State, and Rotella, along with other Shell-branded lubricant products. The company will also retain full control over the marketing, manufacturing, and distribution operations related to lubricants throughout the United States and Canada. These operations serve a broad range of sectors including consumer automotive markets, commercial fleets, and various industrial applications.
According to Machteld de Haan, President of Downstream, Renewables and Energy Solutions at Shell plc, the divestment reflects a strategic decision designed to unlock the value of an asset that is not considered central to Shell’s lubricants portfolio in the United States. She explained that the move will allow the company to redirect capital toward opportunities that can potentially deliver stronger long-term returns and align more closely with Shell’s strategic priorities.
The transaction is expected to be finalized during the second half of 2026. Completion of the deal will depend on the fulfillment of standard closing conditions, including necessary regulatory approvals. Once finalized, Monomoy will assume ownership of Jiffy Lube International, including the registered trademark and its extensive franchise network.
Currently, Jiffy Lube operates more than 2,000 franchise and company-owned service centers across the United States, along with licensed operations in Canada. As part of the acquisition, Monomoy will also take control of Premium Velocity Auto, which represents the second-largest franchisee within the Jiffy Lube system. PVA operates more than 360 service locations spread across 20 U.S. states, making it a significant component of the brand’s operational footprint.
Jiffy Lube has been part of Shell Lubricants’ U.S. operations for more than two decades, during which time it has built a strong reputation and established a trusted relationship with millions of drivers. The brand contributes approximately 6.5% of the total lubricants volume generated by Shell’s operations in the United States and Canada.
The broader Shell Lubricants business, which refers collectively to the lubricant-related activities of Shell Group companies worldwide, has maintained a leading position in the global lubricants market by sales volume for over 19 consecutive years. Meanwhile, the United States remains one of Shell’s most significant investment destinations, with the company maintaining operations and business interests across all 50 states. Through its extensive energy and trading network, Shell continues to supply a wide range of energy products—including refined fuels, liquefied natural gas, power, and lower-carbon fuels—to customers both domestically and internationally.
