MFA Oil Announces Divestment of Jiffy Lube Franchise
October 28th, 2020
MFA Oil Company announced today that it has divested its eight Jiffy Lube quick-service oil change stores in mid-Missouri to Allied Lube Group. Financial terms were not disclosed.
MFA Oil has owned and operated its Jiffy Lube franchise through its subsidiary MFA Petroleum Company since 1990. The deal includes four locations in Columbia, Mo., two in Jefferson City, Mo., one in Fulton, Mo., and one in Sedalia, Mo.
“Our Jiffy Lube franchise has long served as a valuable contributor within MFA Oil, but we have been operating two different automotive service brands and this transaction will allow us to focus our attention and resources on our Big O Tires stores where we see great opportunity for growth,” says Ed Harper, MFA Oil’s vice president of retail automotive.
Allied Lube Group, which currently operates more than 100 Jiffy Lube locations throughout Texas and Iowa, is one of the nation’s leading Jiffy Lube franchisees.
“The acquisition of eight Jiffy Lube service centers in Missouri supports our strategic growth plans, and allows us the opportunity to provide quick, convenient service that consumers need to maintain their vehicles,” said Richard Paek, CEO of Allied Lube Group. “We look forward to serving Missourians in the communities where they live and work.”
About Allied Lube Group
Allied Lube Group, founded in 1992, owns and operates 108 service centers throughout Texas, Iowa and Missouri. The company has grown to be one of the largest franchisees of the highly recognizable Jiffy Lube brand, which pioneered the fast oil change industry in 1979 by establishing the first drive-through service bay, providing customers with fast, professional service for their vehicles. Allied Lube Group was selected as the 2017 Jiffy Lube Franchisee of the Year, and has become one of Jiffy Lube’s leading franchisees.