Icahn Buys 9 Retail Tire/Auto Stores in 8 States
Icahn Automotive Group L.L.C. has acquired nine more retail tire and/or automotive service locations in eight separate transactions, pushing the number of retail locations acquired in 2017 to more than 300.
The nine shops will be rebadged with Icahn's Pep Boys – Manny, Moe & Jack brand, a process that could take a few months to complete.
Icahn also recently bought Seattle-based Elliott Tire & Automotive Centers and BS&F Auto Parts, an aftermarket auto parts distributor in Bronx, N.Y.
These moves are in line with Icahn Automotive's aggressive expansion plans, according to CEO Daniel A. Ninivaggi, who noted that the company now has nearly 2,000 owned and franchised service locations in 49 states plus Puerto Rico, the District of Columbia and Canada.
The latest acquisitions are:
- S&S Service, a NAPA AutoCare Center location in Hamburg, N.Y.;
- Jack's Service Center in Miami;
- Blanchette's Automotive Center in Dracut, Mass.;
- Napa Quality Auto Care, a NAPA AutoCare Center in Napa, Calif.;
- Honest Auto Service in Shoreline, Wash.;
- WS Haynes Tire & Service, a NAPA AutoCare Center and Bridgestone/Firestone-affiliated dealership in Memphis, Tenn. (two stores);
- RL&F Auto Inc. in Morrisville, N.C.; and
- Plainfield Tire Center, a Goodyear-affiliated dealership in Plainfield, Ind.
In addition to buying 300-plus retail locations outright, Icahn acquired the automotive aftermarket franchisors American Driveline Systems (ADS) and Precision Auto Care Inc., which together represent nearly 1,000 franchised business locations under the AAMCO Total Car Care, Cottman Transmission & Total Auto Care and Precision Tune Auto Care brands.
This story first appeared on tirebusiness.com