By Colin Kellaher
Federal regulators are taking a closer look at Valvoline's planned acquisition of automotive quick-lube chain Breeze Autocare from private-equity firm Greenbriar Equity Group.
Valvoline on Friday said the Federal Trade Commission has requested additional information as the antitrust enforcer reviews the deal.
The so-called second request by the FTC signals that the agency is reviewing whether the transaction could be anticompetitive under U.S. law.
Valvoline, a Lexington, Ky., provider of auto-maintenance services, in February said it had agreed to buy Breeze, which operates nearly 200 stores, from Greenbriar for $625 million in cash in a deal slated to close by the end of June.
The company said it will work constructively with the FTC to enable closing of the transaction as soon as possible, adding that it expects to complete the deal in the second half of its current fiscal year, which ends Sept. 30.
The FTC become more active under the Biden administration in moving against large mergers but has been widely expected to go easier on deals under President Trump.
However, the agency last month sued to block the $627 million takeover of medical-device company Surmodics by GTCR, claiming the deal would create a company that controls more than half of the market for outsourced hydrophilic coatings.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 11, 2025 07:35 ET (11:35 GMT)
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