Valvoline Inc. completed the acquisition of Breeze Autocare for $637.4 million, significantly expanding its service center network by 204 stores. This strategic move was funded by a new $740.0 million Term Loan B, leading to a substantial increase in the company's total debt. Following the acquisition, Valvoline divested 45 stores as required by the FTC, resulting in a pre-tax loss of $57.9 million. For the second fiscal quarter, net revenues from continuing operations increased by 25% to $503.8 million, and net income from continuing operations grew by 18% to $45.3 million. However, net income for the six-month period saw a significant decline, primarily due to the non-recurring loss from the divestiture and acquisition-related costs.
