Valvoline Thailand fully acquired by parent
Valvoline Inc says it has found “opportunity and potential to expand the lubricants business in Thailand” by acquiring a 100 per cent share of Valvoline Thailand.
With the average sales growth of 20 per cent annually, Valvoline aims to be ranked in the top five leading brands in the premium lubricants market within three years.
Maitree Supanwattanachai, chief marketing officer, said that Valvoline is the world’s first lubricant brand and one of the leaders in innovation and technology. The company has been a market leader in premium branded automotive, commercial and industrial lubricants, and automotive chemicals for over 150 years with distribution in over 160 countries worldwide.
Valvoline Thailand achieved an average sales growth of 20 per cent annually over the course of 20 years. With the current growth rate, Valvoline Thailand aims to double the business by 2020.
Valvoline Thailand became a full subsidiary of Valvoline Inc in January this year.
The company has a direct salesforce nationwide and a strong channel partners at over 2,000 retail outlets, covering every province. The management team will be led by Vikas Kapur, director, rest of Asia - Valvoline International.