Midas Signs Agreement with a Subsidiary of Purdy Motor to Open Midas Shops in Costa Rica

Midas Signs Agreement with a Subsidiary of Purdy Motor to Open Midas Shops in Costa Rica

ITASCA, Ill.--(BUSINESS WIRE)--Feb. 26, 2008--Midas, Inc. (NYSE: MDS) has signed an exclusive franchise agreement with Talleres Rapidos Centramericanos TRC, S.A. a subsidiary of Purdy Motor S.A. to build and operate Midas shops in Costa Rica.

Purdy, founded in San Jose, Costa Rica, in 1957, is the fourth oldest Toyota distributorship in the world. It employs more than 500 people in 12 sales outlets and parts distribution centers in Costa Rica.

Purdy will initially build five Midas shops, with the first outlet in San Jose expected to open later this year.

"Midas is pleased to be entering a franchise partnership with a company of Purdy's stature and expertise," said Alan D. Feldman, Midas' chairman and chief executive officer. "With its extensive and respected experience in automotive retailing and product distribution, Purdy will represent the Midas brand well in establishing our presence in Costa Rica."

Costa Rica will be the 19th country with Midas shops and the second in Central America.

"The automotive service aftermarket has historically been very fragmented and inconsistent in Costa Rica," said Amadeo Quiros, Purdy's vice president. "The Midas business model for shop operations, training, supply chain partnerships and marketing will enable us to stand above the competition and be quite successful."

Midas is one of the world's larger providers of automotive service, offering brake, maintenance, tires, exhaust, steering and suspension services at more than 2,500 franchised, licensed and company-owned Midas shops in 18 countries, including more than 1,700 in the United States and Canada.

SOURCE: Midas, Inc.

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Red Mango
Based in Dallas and with more than 300 locations across the U.S., Mexico, El Salvador and Uruguay, Red Mango is a rapidly-expanding retailer of...
True REST Float Spa
Be on the ground floor of taking this movement mainstream by joining the established market leader today!
DRNK coffee + tea/QWENCH juice bar
Two trailblazing and on-trend concepts, DRNK Coffee + Tea and QWENCH juice bar are available for franchise development in most US markets.
Homewatch CareGivers
Homewatch CareGivers gives entrepreneurs a proven path to financial success as well as the opportunity to make a positive change in the world. We are...
la Madeleine
Things don't get much better than breakfast at la Madeleine--unless, of course, it's lunch or dinner.
Share This Page

Subscribe to Franchising Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.