Ashland Inc. announced it has completed the previously announced acquisition of OCH International, Inc. (Oil Can Henrys), which operates and franchises a total of 89 quick-lube stores in six states. Financial terms were not disclosed.
Oil Can Henrys, based in Portland, Oregon, is the 14th largest quick-lube network in the United States, servicing approximately 1 million vehicles annually. Founded in 1978, it employs approximately 435 people and currently operates 47 company-owned stores and 42 franchise locations in Oregon, Washington, California, Arizona, Idaho and Colorado.
The addition of Oil Can Henrys will complement the existing Valvoline Instant Oil Change network of 956 company-owned and franchise stores, while also marking Valvolines entry into the quick-lube space in several new markets.
“This is a great fit for us, as it will expand Valvolines geographic footprint into an attractive growth market and accelerate our store growth this year,” said Sam Mitchell, Ashland senior vice president and Valvoline president. “The addition of the Oil Can Henrys network will increase our total store count by approximately 10 percent. In addition, the acquisition highlights the strength of our quick-lube model. We will be able to leverage the unique benefit gained from our vertical integration by introducing industry-leading Valvoline-branded lubricants into the Pacific Northwest quick-lube market. It also enhances our ability to own and operate stores and support franchisees in a new market for Valvoline. We look forward to working with the team at Oil Can Henrys to grow the business and build on their success.”
“The acquisition of Oil Can Henrys is consistent with Valvolines strategy of investing in higher-return opportunities within its core lubricants business,” added William A. Wulfsohn, Ashland chairman and chief executive officer. “We believe the continued expansion of the quick-lubes store footprint, via both organic growth as well as acquisitions, is among the most attractive investments for Valvoline.”
Oil Can Henry’s is now Valvoline Instant Oil Change℠. same. Facebook. We look forward to serving you soon.
“We understand the Oil Can Henrys brand has been a strong presence locally for 35 years,” Rhodes wrote in an email. “We dont plan to make any changes to the brand without first conducting in-market research to evaluate the brand equity from the consumers point of view.”
The Oil Can Henrys chain of quick-lube stores sold Friday to the owner of the competing Valvoline chain.
Oil Can Henrys, founded in 1978, has 435 employees. Gary Rhodes, Ashlands director of corporate communications, said the new owners havent reached any decisions about the future of the Oil Can Henrys brand.
Tualatin-based Oil Can Henrys has 89 stores in six western states, including 38 in Oregon. Valvoline Instant Oil Change, owned by Kentucky company called Ashland Inc., will add Oil Can Henrys locations to its existing 940 stores.
The companies didnt report terms of their deal, but said they plan to complete the transaction in the first three months of 2016. Ashland is preparing to spin Valvoline off as a separate, publicly traded company.
The addition of Oil Can Henrys will complement the existing Valvoline Instant Oil Change network of 956 company-owned and franchise stores, while also marking Valvolines entry into the quick-lube space in several new markets.
“The acquisition of Oil Can Henrys is consistent with Valvolines strategy of investing in higher-return opportunities within its core lubricants business,” added William A. Wulfsohn, Ashland chairman and chief executive officer. “We believe the continued expansion of the quick-lubes store footprint, via both organic growth as well as acquisitions, is among the most attractive investments for Valvoline.”
“This is a great fit for us, as it will expand Valvolines geographic footprint into an attractive growth market and accelerate our store growth this year,” said Sam Mitchell, Ashland senior vice president and Valvoline president. “The addition of the Oil Can Henrys network will increase our total store count by approximately 10 percent. In addition, the acquisition highlights the strength of our quick-lube model. We will be able to leverage the unique benefit gained from our vertical integration by introducing industry-leading Valvoline-branded lubricants into the Pacific Northwest quick-lube market. It also enhances our ability to own and operate stores and support franchisees in a new market for Valvoline. We look forward to working with the team at Oil Can Henrys to grow the business and build on their success.”
Ashland Inc. announced it has completed the previously announced acquisition of OCH International, Inc. (Oil Can Henrys), which operates and franchises a total of 89 quick-lube stores in six states. Financial terms were not disclosed.
Oil Can Henrys, based in Portland, Oregon, is the 14th largest quick-lube network in the United States, servicing approximately 1 million vehicles annually. Founded in 1978, it employs approximately 435 people and currently operates 47 company-owned stores and 42 franchise locations in Oregon, Washington, California, Arizona, Idaho and Colorado.
Oil Can Henry’s – Then & Now
FAQ
Who was Oil Can Henry?
Where is oil can Henry’s located?
The company had locations in six different western states: Washington, Oregon, California, Idaho, Arizona, and Colorado, with the majority of the shops located in Oregon and Washington. Oil Can Henry’s also offered a variety of other vehicle maintenance services in addition to oil changes.
Is oil can Henry’s a good place to get an oil change?
Oil Can Henry’s is a great place to get a fast oil change even though they as re a little pricy but they don’t try to sell you things you dont need. I took it to these people, to get my OL change now I have an oil leak. They tell me I have to wait in line to get it fixed they can’t make me an appointment.
Who is Henry oil?
Henry Oil Co., Inc. is a full service fuel oil, diesel, and gasoline dealer based in Providence, RI. We provide service to most of Rhode Island and parts of Massachusetts. We are a third generation, family owned business that has been serving Rhode Island since 1947. Call us today to supply all of your residential, commercial, fuel service needs.
What services does oil can Henry’s offer?
Oil Can Henry’s also offered a variety of other vehicle maintenance services in addition to oil changes. ^ Bhargava, Rohit (2008). Personality Not Included: Why Companies Lose Their Authenticity and How Great Brands Get It Back.