Valvoline Inc.’s Pursuit of the Separation of its Retail Services and Global Product Businesses

On October 12, 2021, Valvoline Inc., a global leader in vehicle care, announced that it is accelerating its continued transformation by pursuing a separation of its two business segments, Retail Services and Global Products. Cravath is representing Valvoline Inc. in connection with the transaction. No timetable has been established for the completion of the separation, and Valvoline does not intend to disclose further developments with respect to this process, unless and until its Board approves a specific transaction or action.

The Cravath team is led by partners Robert I. Townsend III, Andrew J. Pitts and D. Scott Bennett and includes associates Claudia Ricciardi and Ellen H. Park on corporate matters, partner J. Leonard Teti II, senior attorney Kiran Sheffrin and associate Cecily Xi on tax matters, and partner Jonathan J. Katz, practice area attorney Aaron S. Cha and associate Brendon J. Rivard on executive compensation and benefits matters. Benjamin B. Arcano also worked on corporate matters.