Driven Brands (DRVN) to Divest U.S. Car Wash Business for $385M

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Go back to Driven Brands (DRVN) to Divest U.S. Car Wash Business for $385M

Driven Brands Announces Agreement to Divest U.S. Car Wash Business for $385 Million

February 25, 2025 7:15 AM EST

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Driven Brands Holdings Inc. (NASDAQ: DRVN) (Driven Brands or the Company), the largest automotive services company in North America, today announced that it has entered into a definitive agreement to sell its U.S. car wash business to Express Wash Operations, LLC dba Whistle Express Car Wash (Whistle) for $385 million.

This transaction will enable Driven Brands to reduce debt and enhance our focus on our growing Take 5 Oil Change® brand and our stable, cash-generating franchise brands, said Jonathan Fitzpatrick, President and Chief Executive Officer. This decision follows a deliberate and... More