U.S. markets closed
  • S&P 500

    4,136.48
    -43.28 (-1.04%)
     
  • Dow 30

    33,926.01
    -127.93 (-0.38%)
     
  • Nasdaq

    12,006.96
    -193.86 (-1.59%)
     
  • Russell 2000

    1,985.53
    -15.69 (-0.78%)
     
  • Crude Oil

    73.23
    -2.65 (-3.49%)
     
  • Gold

    1,877.70
    -53.10 (-2.75%)
     
  • Silver

    22.40
    -1.22 (-5.17%)
     
  • EUR/USD

    1.0798
    -0.0113 (-1.04%)
     
  • 10-Yr Bond

    3.5320
    +0.1360 (+4.00%)
     
  • GBP/USD

    1.2056
    -0.0173 (-1.41%)
     
  • USD/JPY

    131.1500
    +2.5460 (+1.98%)
     
  • BTC-USD

    23,332.86
    -78.58 (-0.34%)
     
  • CMC Crypto 200

    535.42
    -1.43 (-0.27%)
     
  • FTSE 100

    7,901.80
    +81.64 (+1.04%)
     
  • Nikkei 225

    27,509.46
    +107.41 (+0.39%)
     

Driven Brands Acquires Florida-Based K&K Glass For Undisclosed Sum

  • Automotive services company Driven Brands Holdings Inc (NASDAQ: DRVN) has acquired Florida-based K&K Glass, an automotive glass retailer, for undisclosed financial terms.

  • Opened in 1994 by Dan Knowlton, K&K has seven locations, over 20 warehouses, and over 100 mobile vans.

  • K&K is Driven Brands' fifth U.S. automotive glass acquisition and will be reported in its Paint, Collision, and Glass segment.

  • "We remain highly acquisitive in this segment as we look to support the needs of our customers in this extremely fragmented industry," said Michael Macaluso, EVP and paint, collision, and glass group president, Driven Brands.

  • Driven Brands held $312.2 million in cash and equivalents as of March 26, 2022.

  • Driven Brands first entered the glass business in Canada with the acquisition of Uniban Canada in 2019 and now has over 350 locations across North America.

  • Price Action: DRVN shares closed lower by 1.10% at $27.95 on Wednesday.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.