The Federal Trade Commission finalized a consent order resolving antitrust concerns related to a deal between Valvoline Inc. and private equity firm Greenbriar Equity Fund V., L.P. (Greenbriar).
The consent order requires the divestiture of 45 quick-lube oil change shops to address antitrust concerns surrounding Valvoline’s acquisition of approximately 200 quick-lube oil change outlets from Greenbriar. The FTC’s complaint alleges that acquisition would eliminate competition across 25 local markets where Valvoline and Oil Changers, a subsidiary of Greenbriar, directly compete in offering quick-lube oil changes. Under the terms of the FTC’s final order, Main Street Auto LLC will acquire the divested outlets from Greenbriar and operate them under the name Oil Changers.
The order will protect Americans from higher prices for quick-lube oil changes and lower quality quick-lube oil change services in California, Kentucky, Idaho, Illinois, Indiana, Michigan, Washington and Wisconsin.
Following a public comment period, the Commission voted 2-0 to approve the final order.
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