Acquires 100th site since ICWG acquisition in August 2020
CHARLOTTE, N.C., Nov. 01, 2021 (GLOBE NEWSWIRE) -- Driven Brands Holdings Inc. (NASDAQ: DRVN) is proud to announce the acquisition of its 100th car wash since entering the business in August 2020. This milestone highlights the speed at which Driven Brands is expanding in one of its newest business segments. This brings the total number of Driven Brands Car Washes in the U.S. to over 300.
Driven Brands is the fastest-growing express conveyor car wash operator in North America.
Driven Brands most recently acquired Magic Tunnel Car Wash, which operates 16 sites across Ohio, West Virginia, and Georgia. Magic Tunnel has a strong wash club subscriber base, aligning with Driven Brands’ overall customer data strategy.
“There is so much fragmentation in the express tunnel car wash industry and we’re excited to be on the forefront of consolidation. Each site we acquire will make us better, and we will make it better. Magic Tunnel is already a great business and we will leverage our scale to bring cost synergies to the business along with our proven Driven playbook to grow it for years to come,” said Jonathan Fitzpatrick, president and CEO of Driven Brands.
John Teddy recently joined Driven Brands as EVP and President, Car Wash North America. “We are thrilled to welcome Magic Tunnel Car Wash to our portfolio at Driven Brands and expand our reach to more customers in the U.S. I am excited to continue building this portfolio as the fastest-growing car wash business in North America,” Teddy said.
Driven Brands offers car wash operators resources, industry expertise and purchasing power. Owner/operators interested in joining the Driven Brands Car Wash family can contact email@example.com or firstname.lastname@example.org. You can also go to https://www.drivenbrands.com/sell-your-carwash/
About Driven Brands
Driven Brands™, headquartered in Charlotte, NC, is the largest automotive services company in North America, providing a range of consumer and commercial automotive needs, including paint, collision, glass, vehicle repair, oil change, maintenance and car wash. Driven Brands is the parent company of some of North America’s leading automotive service businesses including Take 5 Oil Change®, Meineke Car Care Centers®, Maaco®, 1-800-Radiator & A/C®, and CARSTAR®. Driven Brands has more than 4,300 locations across 15 countries, and services over 50 million vehicles annually. Driven Brands’ network generates more than $1 billion in revenue from more than $4 billion in system-wide sales. For more information on the power of Driven Brands, visit www.DrivenBrands.com