Shell exits the quick oil change service business in the United States

Shell has recently reached an agreement to sell Jiffy Lube International and its subsidiary Premium Velocity Auto to Monomoy Capital Partners affiliates for $1.3 billion. This transaction marks Shell’s strategic exit from the fast oil change service business in the United States, while continuing to retain its core lubricant brands.

Under the agreement, Shell’s U.S. lubricant subsidiary Pennzoil Quaker State will spin off the Jiffy Lube brand and its franchise automotive service center network. The deal also includes Premium Velocity Auto, which operates over 360 stores across 20 states in the U.S. As part of the agreement, Shell will sign a long-term lubricant supply contract with Monomoy to ensure Jiffy Lube stores continue using Shell products after the sale. The transaction is expected to be completed in the second half of 2026.

Shell executives stated that this move aligns with the company’s overall strategy to optimize its downstream portfolio and direct capital toward high-return opportunities. The President of Shell’s downstream, renewable energy, and energy solutions emphasized that by seizing favorable market opportunities, this transaction allows Shell to monetize non-core assets and reinvest in areas with higher returns.

Jiffy Lube has been part of Shell’s U.S. lubricant business for over 20 years, with more than 2,000 service centers across the U.S. and franchise locations in Canada, providing oil changes, lubrication services, and routine maintenance for passenger cars and light trucks. Shell data shows that Jiffy Lube accounts for approximately 6.5% of Shell’s total lubricants volume in North America.