Costa Kapothanasis, CEO of Costa Oil, has completed a buyout of Costa Franchising LLC shareholders, according to a press release.
Costa Franchising LLC is the franchising arm of Costa Oil – 10 Minute Oil Change. Through this buyout, Kapothanasis now has full ownership over the Costa Oil brand, which includes 50+ store locations, Costa Oil Performance Filtration, and Costa Motor Oils.
Michael Abdy is the former majority shareholder of Costa Franchising LLC through his investment company ABACO.
"I am pleased to see the company return to the hands of its original visionary. Costa's leadership has always driven the brand's success, and I am confident in the future under his full ownership,” Abdy said. “This transition represents a new chapter for Costa Oil, one that promises continued innovation and excellence."
The buyout process also involved Kapothanasis purchasing all interests from FranDevCo.
Under unified ownership from Kapothanasis, Costa Oil carves out its intentions for the future. Some of these are listed as an expanded market presence, new products and services, technology use that improves service delivery, environmental sustainability efforts, a continued emphasis on community, and the oil change-only model that Costa Oil – 10 Minute Oil Change is already known for.
“This acquisition is a significant milestone for Costa Oil. It allows us to streamline operations, enhance customer experience, and innovate more effectively,” Kapothanasis said. “We are excited about the future and remain committed to providing the highest quality service in the industry."
