Shell Plc [SHEL] has agreed to sell its Jiffy Lube business to an affiliate of Monomoy Capital Partners for $1.3 billion. The transaction will be carried out through Pennzoil Quaker State Company, which operates Shell's lubricants business in the United States.
The deal includes Jiffy Lube International and its subsidiary Premium Velocity Auto, covering more than 2,000 franchise and company-operated service centers across the U.S., along with licensed locations in Canada.
Shell will retain ownership of its major lubricant brands, including Pennzoil, Quaker State and Rotella, as well as its manufacturing, marketing and distribution operations serving consumer, commercial and industrial customers in the U.S. and Canada.
As part of the agreement, Shell's Pennzoil Quaker State unit will also sign long-term lubricants supply deal with Monomoy. The company said the divestment allows it to monetize a non-core asset while focusing on higher-return opportunities within its lubricant's portfolio.
Jiffy Lube has been part of Shell's lubricants division for more than two decades and represents roughly 6.5 percent of Shell's lubricants volume in the U.S. and Canada.
The transaction is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.