Mavis expands North American footprint through acquisition of Pep Boys from Icahn Enterprises

Mavis Tire Express Services Corp. has finalized its $700 million cash acquisition of Pep Boys from Icahn Enterprises L.P. The strategic buyout adds nearly 800 service locations, boosting Mavis's network beyond 4,400 sites and expanding its presence across the Western United States.

Mavis Tire Express Services Corp. has finalized the acquisition of The Pep Boys-Manny, Moe & Jack Holding Corp. from Icahn Automotive Group LLC, a subsidiary of Icahn Enterprises L.P., in an all-cash transaction valued at approximately $700 million. Under the deal terms, Pep Boys will maintain its existing brand identity as part of Mavis's portfolio, while Icahn Enterprises retains ownership of the underlying real estate properties alongside the AAMCO Transmissions and Precision Tune Auto Care businesses.

Headquartered in White Plains, New York, Mavis is a leading independent tire and automotive service provider in North America. The organization operates a nationwide network offering routine maintenance, tire installations, and vehicle repair services. Icahn Enterprises L.P. is a diversified master limited partnership with holding operations across industrial, automotive, energy, and real estate sectors.

This corporate transaction significantly scales Mavis's operational capacity, adding nearly 800 retail and service units across the United States and Puerto Rico. The combined entity expands Mavis's geographic reach to more than 4,400 retail and franchised service centers across the United States and Canada, notably enhancing its market footprint in the Western U.S.

The consolidation reflects broader market trends toward scale in the automotive aftermarket and maintenance sector. By absorbing Pep Boys' retail network while leaving commercial real estate holdings with Icahn Enterprises, Mavis optimizes its asset-light service strategy. The transition impacts automotive service providers, fleet management operators, commercial real estate landlords, and regional auto parts supply chains across North American markets.