PHILADELPHIA--(BUSINESS WIRE)--Pep Boys, a wholly-owned subsidiary of Icahn Automotive Group LLC, today
announced that it has entered into a definitive agreement to acquire
Advanced Auto Service & Tire Centers in Phoenix.
“We are pleased to increase our store density in the metropolitan
Phoenix area with the acquisition of Advanced Auto Service & Tire
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Centers, the third largest independent automotive service chain in the
market,” commented Icahn Automotive President of Service, Bill Ihnken.
“This expansion of our service center network in Arizona will allow us
to serve more customers in more neighborhoods, from Flagstaff in the
north to Nogales in the south, with the highest quality total car care,
including free services such as tire rotations, A/C checks, brake
inspections and a year of roadside assistance with every tire purchased.”
Advanced, with 15 service centers, a wholesale tire business and more
than 120 employees, has operated in Arizona since 1989. The majority of
its locations are situated in the Phoenix area in the densely-populated
East Valley, with three in the West Valley and three further north in
Prescott, Prescott Valley and Flagstaff. Its shops are full service with
an average of seven bays. These locations will be transitioned to Pep
Boys Service & Tire Centers.
“With this acquisition, we continue to grow our national service center
network, focused on providing superior customer service as well as a
broad selection of tires and parts, always at a great value,” said Dan
Ninivaggi, CEO of Icahn Automotive. “We welcome the outstanding Advanced
team to Icahn Automotive and look forward to building on the great
customer relationships they have developed over the last 28 years.”
About Pep Boys
Since 1921, Pep Boys has been one of the nation's leading automotive
aftermarket chains, providing name-brand tires; automotive maintenance
and repair; parts and expert advice for the Do-It-Yourselfer; commercial
auto parts delivery; and fleet maintenance and repair to customers
across the U.S. Pep Boys operates more than 9,000 service bays in
approximately 1,000 locations in 35 states and Puerto Rico. Customers
can find the nearest location by calling 1-800-PEP BOYS (1-800-737-2697)
or by visiting www.pepboys.com.
Pep Boys is owned by Icahn Automotive Group LLC.
About Icahn Automotive Group LLC
Icahn Automotive Group LLC was formed by its parent, Icahn Enterprises
L.P. (NASDAQ: IEP), to invest in and operate businesses involved in
aftermarket parts distribution and service. Our businesses have a
singular focus: provide premium automotive parts and services at a great
value. The businesses of Icahn Automotive Group today consist of Pep
Boys, an automotive aftermarket retail and service chain, Auto Plus®,
an automotive aftermarket parts distributor, Just Brakes®, an
automotive service chain, and Precision Tune Auto Care, a network of
owned and franchised automotive service centers.
Caution Concerning Forward-Looking Statements
This release contains certain “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995, many of
which are beyond our ability to control or predict. Forward-looking
statements may be identified by words such as “expects”, “anticipates”,
“intends”, “plans”, “believes”, “seeks”, “estimates”, “will” or words of
similar meaning. Forward-looking statements are not based on historical
facts, but rather on current expectations and projections about future
events, and are therefore subject to risks and uncertainties which could
cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. Such statements
are qualified in their entirety by the inherent risks and uncertainties
surrounding future expectations. We undertake no obligation to publicly
update or review any forward-looking information, whether as a result of
new information, future developments or otherwise.
Contacts
Pep Boys
Media Contact:
Alex Spooner, 215-430-9588
or
Mergers
and Acquisitions Contact:
James Healy, 215-430-9462