Icahn Enterprises to sell Pep Boys to Mavis in $700 million deal

Corporate Action
โดย Seeking Alpha·Read original
Summary · why it matters

Icahn Enterprises has agreed to sell automotive service chain Pep Boys to Mavis Tire Express Services in a transaction valued at about $700 million in cash, according to a Wall Street Journal report citing people familiar with the matter. The deal is expected to be formally announced on Tuesday. Icahn Enterprises bought Pep Boys in 2016 for roughly $1 billion in cash. Pep Boys operates nearly 800 locations across the United States and Puerto Rico, which would complement Mavis' existing network of about 3,600 stores. The acquisition supports Mavis' long-term growth strategy, with the company expecting to open about 120 new stores in 2026 and more than 160 locations annually from 2027 through 2030, according to a Fitch Ratings note.

Impact on stocks 1

Climate Adaptation & Water▲ · 1 stocks
Icahn Enterprises LP
IEP
▲ PositiveCapitalrelevance

Icahn Enterprises sells Pep Boys for $700M, generating cash and potentially improving its balance sheet.

Off-coverage companies 3

Mavis Tire Express ServicesPrivate▲ Positive
Demandrelevance

Mavis acquires Pep Boys' 800 locations, expanding its network and supporting its growth strategy.

Fitch RatingsPrivate± Mixed
relevance

Pep BoysPrivate± Mixed
relevance

© 2026 MarketDXNews