Valvoline (VVV) said Tuesday it plans to re-franchise 38 Valvoline Instant Oil Change service centers in Texas to a new franchisee, Velocity Auto Care.
Financial details were not disclosed.
The service centers are located in Austin, San Antonio, El Paso and west Texas, the company said.
The new franchise partner, Velocity Auto Care, is a wholly owned portfolio company of Franchise Equity Partners, owner of 10 franchise companies operating fast-food restaurants, home services, and auto dealerships in 33 states, Valvoline said.
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