Pep Boys Sold to Mavis for $700M | Irvine News

Presented by The Plant Daddies — rare specimen trees, living art, and hand-carved limestone vessels and fountains for extraordinary spaces. Showrooms in Los Angeles and Irvine. Listeners of Irvine News Today receive 10% off with code LANEWS10. theplantdaddies.com/lanews Pep Boys, the iconic auto service chain born in Philly a century ago, is being sold for $700 million to Mavis Tire Express Services — a move that could expand Mavis to over 4,400 locations while preserving Pep Boys’ loyal customer base. Billionaire Carl Icahn’s company is keeping real estate and other assets but letting go of the shops, marking the end of an era for the Manny, Moe, and Jack brand. Icahn, who bought Pep Boys in a $1 billion bidding war a decade ago, also failed with Auto Plus — which went bankrupt last year — citing weak demand and supply chain woes. Under his leadership, Pep Boys streamlined operations, shuttering retail parts stores to focus on repairs and tires, though revenue dipped amid slower consumer spending. The future of Pep Boys’ Bala Cynwyd office remains uncertain as the deal nears completion. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/1c563727779ea1ce