Valvoline receives second request from FTC related to Breeze acquisition

Valvoline (VVV) announced that the company and Greenbriar Equity Group each received a Request for Additional Information and Documentary Material from the U.S. Federal Trade Commission as part of the agency’s regulatory review of Valvoline’s proposed acquisition of Breeze Autocare from Greenbriar. The Second Request extends the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 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. The completion of the acquisition remains subject to the expiration or termination of the waiting period under the HSR Act and other customary closing conditions. The company will continue to work constructively with the FTC to enable closing of the transaction as soon as possible. The company expects the transaction to close in the second half of fiscal 2025.