Valvoline Inc. and the Greenbriar Equity Group have each received a request for additional information and documentary material (second request) from the U.S. Federal Trade Commission (FTC) as part of the agency’s regulatory review of Valvoline’s proposed acquisition of Breeze Autocare from Greenbriar.
Pleasanton, CA-based Breeze operates nearly 200 quick lube shops across 17 states — with a concentration in California, Texas and the Midwest — predominantly under the Oil Changers brand.
The second request extends the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) until 30 days after Valvoline and Greenbriar have substantially complied with the requests, unless the waiting period is voluntarily extended by the parties or terminated sooner by the FTC.
Completion of the acquisition remains subject to the expiration or termination of the waiting period under the HSR Act and other customary closing conditions.
Valvoline stated on April 11 that it “will continue to work constructively with the FTC to enable closing of the transaction as soon as possible,” adding that Valvoline expects the transaction to close in the second half of fiscal 2025.
