Icahn Automotive Announces Growth Plans in Detroit Market
August 21 2017 - 12:39PM
Business Wire
Icahn Automotive Group LLC, one of the largest distributors of
parts, tires and accessories in the U.S., as well as a leading
provider of total car care service, today announced several major
investments in the Detroit metropolitan region.
“For 96 years, Pep Boys, a wholly-owned subsidiary of Icahn
Automotive, has shared the Motor City’s passion and pride for all
things automotive,” said Icahn Automotive CEO, Dan Ninivaggi. “We
are excited to announce a multi-million-dollar expansion plan that
includes new store openings, the extensive remodeling of several
existing stores and the doubling of our parts inventory in the
market.”
Most recently, the Company announced the acquisitions of
Precision Auto Care, Inc., with Precision Tune franchise locations
in Royal Oak and Detroit, and Phil Cavill’s Tire & Auto Service
Center, a staple in the community of Clawson for 34 years. This
10-bay shop will be converted to a full-service Pep Boys Service
& Tire Center.
To meet the needs of both consumers and commercial customers,
Pep Boys has extensively renovated its Detroit-area stores and
dramatically expanded its parts and tire availability, adding more
high-quality products to its local stores. Pep Boys, in conjunction
with the Company’s Auto Plus wholesale parts distribution arm,
carries a full line of premium parts, including Moog chassis and
Wagner braking products, as well as an exclusive line of Champion®
wipers, lighting, filters, batteries and ignition products. In
addition, the in-store Speed Shop in Pep Boys’ Eastpointe location
caters to the many automotive enthusiasts in the area and features
a broad selection of high-performance and appearance products.
In celebration of its growth plans in Detroit, Pep Boys took
part in the Woodward Dream Cruise this past weekend. “Pep Boys is
passionate about honoring our heritage and long history in Detroit,
and participating in the Woodward Dream Cruise was an excellent
opportunity to do so in a city that is as proud of its automotive
industry roots as we are,” Ninivaggi said. “Coupled with IndyCar
driver Graham Rahal’s recent back-to-back wins in the Detroit Grand
Prix, which was an exciting start to our 2017 sponsorship, we are
thrilled to have been part of several major Detroit-based
automotive events this year.”
These investments in Detroit are part of Icahn Automotive’s
larger strategy to grow its national network and provide customers
with the largest assortment of premium parts and tires as well as
the highest quality total car care service – always at the best
value guaranteed!
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.
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.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170821005671/en/
Icahn Automotive Group LLCMedia Contact:Alex Spooner,
215-430-9588mediarelations@pepboys.comorMergers and Acquisitions
Contact:James Healy, 215-430-9462jhealy@icahnautomotive.com
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