By Victoria Neal
- Pennzoil Co., parent company of Jiffy Lube International, and Q-Lube's Quaker State Corp. have made the leap from competitors to allies, recently joining forces to create Pennzoil-Quaker State Co. The restructuring combines Pennzoil's motor oil, refined products and franchise divisions with all of Quaker State, creating one of the largest automotive consumer products company worldwide. Over the next year, all Q-Lube franchises will be consolidated into Jiffy Lube operations. Pennzoil-Quaker State Co.'s annual sales are expected to exceed $3 billion.
- National athletic footwear retailer The Athlete's Foot is offering a program in which qualified managers who have been with the company for a minimum of three years and who have five years overall industry experience can become owners of an Athlete's Foot franchise. The "manager to owner program," or "M20," is financed in part by Franchise Mortgage Acceptance Co. , a specialty commercial finance firm.