Mavis completes acquisition of Pep Boys

White Plains, New York – US tire and automotive service retailer Mavis Tire Express Services has completed the acquisition of automotive service chain Pep Boys from Icahn Enterprises in a cash deal worth around $700 million (€614 million).

In a 20 Aug statement following the acquisition, Mavis said Pep Boys will retain its brand identity as part of the Mavis family of brands.

“The acquisition brings together two highly recognised automotive service networks and significantly expands Mavis’s scale and geographic reach,” said Mavis in a press release.

The move adds nearly 800 Pep Boys locations, bringing the total of Mavis network locations to 4,400 across the US and Canada.

In particular, the move ‘substantially expands’ presence across the Western US.

"Our focus now turns to bringing our organizations together, supporting our technicians and store teams, and building on the strengths of both brands,” said Stephen Sorbaro, Co-CEO Mavis.

As part of the deal, Icahn Enterprises retained the owned real estate from Pep Boys, as well as the AAMCO Transmissions and Precision Tune Auto Care Businesses.