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Pep Boys buys Just Brakes store chain, plans more deals
Will boost store count above 900
Pep Boys, the Philadelphia-based auto-parts and repair store chain purchased for $1 billion last winter by investor Carl Icahn, says it has acquired the 27-year-old Just Brakes store chain, and its 134 stores in Dallas, Atlanta, and 12 other metro markets, for an undisclosed price.
Just Brakes stores will be converted into Pep Boys Service & Tire Centers, Pep Boys chief executive Brent Windom said in a statement. The addition will boost Pep Boys' store count above 900. The companies have few overlapping markets. -- Sellers are the private-equity firms that own Just Brakes: Hicks Equity Partners, Gemini Investors, Monhegan Partners.