The Car and Truck Fleet and Leasing Management Magazine

Bridgestone to Acquire 800 Pep Boys Stores

October 26, 2015

Photo of Pep Boys store in Farmington Hills, Mich., via Wikimedia.
Photo of Pep Boys store in Farmington Hills, Mich., via Wikimedia.

Bridgestone Americas is moving to acquire automotive parts retailer and service provider Pep Boys in an all-cash transaction valued at $835 million in share value, the company announced.

Bridgestone Retail Operations has entered into a merger agreement with Philadelphia-based The Pep Boys – Manny, Moe & Jack. As part of the deal, Bridgestone's retail subsidiary would acquire 800 Pep Boys stores to add to its 2,200 existing stores. The stores operate under the Firestone Complete Auto Care, Tires Plus, Hibdon Tires Plus and Wheel Works brand banners. Pep Boys manages more than 7,500 service bays.

Under terms of the deal, Bridgestone will pay $15 per share, which represents a 23% premium over Pep Boys closing price of $12.15 on Oct. 23.

Pep Boys is one of the largest national account vendors for the fleet management companies. Pep Boys also has a robust direct fleet program.

Read the full announcement here.

Twitter Facebook Google+

Comments

Please note that comments may be moderated. 
Leave this field empty:
 
 

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

FleetFAQ

Fleet Tracking And Telematics

Todd Ewing from Fleetmatics will answer your questions and challenges

View All

 

Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All

 

Sponsored by

A specialized version of an open end lease used in the United States primarily for automobiles and light-duty trucks. TRAC is an acronym for "Terminal Rent Adjustment Clause," an arrangement featuring a final rental adjustment on the lease which occurs after the vehicle is removed from service and sold.

Read more

Up Next

More From The World's Largest Fleet Publisher