Pep Boys Forms Supply Alliance with Precision Auto Care
PHILADELPHIA--Dec. 2, 20033, 2003--The Pep Boys - Manny, Moe & Jack , the nation's leading automotive aftermarket retail and service chain, announced that it has formed an alliance with Precision Auto Care, Inc. to supply tires and selected hard parts to Precision Tune Auto Care's nationwide franchise of automotive service centers.
Precision Auto Care, Inc., headquartered in Leesburg, VA, franchises Precision Tune Auto Care centers through Precision Franchising LLC. Precision Tune Auto Care has more than 440 independently owned and operated professional automotive service centers in the United States and abroad, which offer automotive diagnostics, repair and scheduled maintenance services.
"We are quite pleased to establish this mutually beneficial relationship with Precision Tune Auto Care," noted Craig Henning, Pep Boys' vice president of Commercial Sales. "It allows us to increase sales and provide Precision Tune Auto Care centers with prompt, reliable deliveries of top-quality replacement parts and tires."
According to John Wiegand, Precision Tune Auto Care's senior vice president of Operational Programs, "This alliance enables us to expand our emerging tire business - which is a priority for us - as well as acquire front end parts from a single supplier. Pep Boys has a proven reputation as a national automotive aftermarket company that provides convenient and timely delivery of high quality parts. For a professional auto installer like Precision Tune Auto Care, that was a very important factor in aligning with Pep Boys. We fully expect the relationship to be beneficial and successful for both companies."
This is a new alliance between Pep Boys and Precision Auto Care, Inc. The terms of the agreement are ongoing and non-exclusive.
About Precision Auto Care, Inc.
Precision Auto Care, Inc. has operated in the United States since 1977 and internationally since 1990. Today, Precision Tune Auto Care has more than 440 independently owned and operated professional automotive service centers offering automotive diagnostics, repair and scheduled maintenance services throughout the continental U.S. and around the world in Taiwan, Portugal, Brazil, El Salvador, Bahamas, Dominican Republic, Indonesia, Oman, Saudi Arabia and Peru. Precision Tune Auto Care also recently announced an additional 26 stores are planned to open in Portugal in 2004, soon to be followed with expansion into Spain. In fiscal year 2003, Precision Auto Care, Inc. reported revenues of $11.9 million. For more information, visit www.precisionac.com or call 1-800-438-8863 (1-800-GET TUNE).
About Pep Boys
Pep Boys has 595 stores and over 6,000 service bays in 36 states and Puerto Rico. Along with its vehicle repair and maintenance capabilities, the company also serves the commercial auto parts delivery market and is one of the leading sellers of replacement tires in the United States. Customers can find the nearest location by calling 1-800-PEP-BOYS or by visiting pepboys.com.
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