Sept. 1, 2017—Pep Boys, owned by Icahn Automotive Group, announced it has entered into a definitive agreement to acquire Advanced Auto Service & Tire Centers in Phoenix.
Just last month, Carl Icahn, CEO of Icahn Automotive Group, finished an acquisition of 250 Precision Tune Auto Care shops. It's all part of Icahn's vertical integration model, said Jim Lang, as Icahn is looking to control the auto supplier (Federal-Mogul), auto parts store (Auto Plus) and the shops that buy the parts (Precision, Pep Boys, Just Brakes).
Advanced, with 15 service centers, a wholesale tire business and more than 120 employees, has operated in Arizona since 1989. The majority of its locations are situated in the Phoenix area in the densely-populated East Valley, with three in the West Valley and three further north in Prescott, Prescott Valley and Flagstaff.
Its shops are full service with an average of seven bays. These locations will be transitioned to Pep Boys Service & Tire Centers.
“We are pleased to increase our store density in the metropolitan Phoenix area with the acquisition of Advanced Auto Service & Tire Centers, the third largest independent automotive service chain in the market,” commented Icahn Automotive President of Service, Bill Ihnken. “This expansion of our service center network in Arizona will allow us to serve more customers in more neighborhoods, from Flagstaff in the north to Nogales in the south, with the highest quality total car care, including free services such as tire rotations, A/C checks, brake inspections and a year of roadside assistance with every tire purchased.”
