Pennzoil Quaker State Company DBA SOPUS Products, a wholly owned subsidiary of Shell USA, Inc., that comprises Shell's United States ("U.S.") lubricants business, has entered an agreement to sell Jiffy Lube International (JLI) and its subsidiary Premium Velocity Auto (PVA) LLC business to an affiliate of Monomoy Capital Partners (Monomoy) for $1.3 billion. As part of this transaction, Pennzoil Quaker State Company has entered into a long-term lubricants supply agreement with Monomoy.

The sale includes the Jiffy Lube brand and a network of franchised stores which are owned and operated by independent franchisees, in addition to franchised stores that are owned and operated by PVA. Shell will retain its Pennzoil Quaker State, Rotella and other Shell lubricants brands, along with marketing, manufacturing and distribution of lubricants in the U.S. and Canada that serve consumer, commercial and industrial sectors.