Ashland Inc. : Valvoline Instant Oil Change™ targets Richmond, Va., for franchise expansion

Nation's second-largest quick-lube chain could add 15-20 stores under planned new-market expansion

LEXINGTON, Ky. - Valvoline Instant Oil Change, the nation's second-largest quick-lube chain, today announced plans to expand its service center franchise into the Richmond, Va., market in 2012. The company said it could open 15-20 new franchise service centers over the next few years in the Richmond/Norfolk area as part of its first entry into a new franchise market in several years.

"We see Richmond as an attractive growth market for our service model," said Tony Puckett, Valvoline Instant Oil Change president.  "The region has a large, diverse retail economy, and boasts the most retail square footage per capita. This is an exciting time for Valvoline as we chart our course for growth in the years ahead, and we believe Richmond could play a key role in that strategy."

Valvoline Instant Oil Change currently has 823 stores (260 company operated and 563 franchise operated) across the United States. Franchise sales leaders have begun reaching out to local business owners and potential franchisees in the Richmond area to introduce the chain and share its growth outlook.  Prior automotive or oil-change experience is not a prerequisite for potential franchisees.

"Our most successful owners have strong business backgrounds and the ability to build and lead high-performance teams," Puckett said, noting that franchisee candidates could include a successful business person looking for a proven franchise opportunity, an existing multi-unit operator interested in diversifying his franchise business portfolio, or an independent quick lube owner needing more tools to help grow his business.

Puckett said that over the past few years, the company has focused on strengthening its core group of existing franchisees, with a particular focus on ensuring operational excellence. "Today we have strong operators and a proven business model. Now it's time to introduce that same standard of service center excellence to drivers in Richmond," he said.   

Valvoline, a brand of Ashland Inc. (NYSE: ASH), has been serving American motorists longer than any other motor oil. In addition to commercial and industrial lubricants, the Valvoline family of products includes Eagle One™ appearance products, Car Brite™ car restoration products, Zerex™ antifreeze, SynPower™ performance products, MaxLife™ products created for higher-mileage engines, and NextGen™ motor oil created with 50 percent recycled oil. With more than 860 locations throughout the United States, Valvoline Instant Oil Change™ is a leader in serving the quick lube market.

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