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Diversified Royalty Corp. Announces Agreement to Acquire Mr. Lube + Tires Franchisor Business
The deal would lift pro forma distributable cash per share to $0.3478 and keep the annual dividend at $0.285, the company said.
- On Thursday, May 14, 2026, Diversified Royalty Corp. announced a definitive agreement to acquire the Mr. Lube + Tires franchisor business in Canada for an aggregate purchase price of $235 million.
- Since 2015, DIV has owned the trademarks and intellectual property rights utilized by Mr. Lube + Tires, building on a partnership that has lasted over 11 years.
- The acquisition will be funded through a new $212.5 million senior credit facility and $13.7 million in DIV shares issued to Mr. Lube + Tires equity holders at $3.98 per share.
- DIV estimates the acquisition will increase distributable cash per share from $0.3128 to $0.3478, with Sean Morrison, Chief Executive Officer of DIV, stating, "DIV looks forward to completing the Acquisition."
- Closing of the acquisition is expected to occur on or before the end of Q2 2026, subject to customary closing conditions and receipt of certain regulatory approvals.
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The Toronto Star+8 Reposted by 8 other sources
Diversified Royalty Corp. Announces Agreement to Acquire Mr. Lube + Tires Franchisor Business
VANCOUVER, British Columbia, May 14, 2026 (GLOBE NEWSWIRE) -- Diversified Royalty Corp. (TSX: DIV, DIV.DB.A and DIV.DB.B) (the “Corporation” or “DIV”) is pleased to announce that it, and its newly formed wholly owned subsidiary (the “Purchaser”), have entered into a…
·Toronto, Canada
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Total News Sources15
Leaning Left9Leaning Right2Center2Last UpdatedBias Distribution69% Left
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- 69% of the sources lean Left
69% Left
L 69%
C 16%
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