MAACO® Acquires Sprayglo Auto Refinishing and Body Repair

Purchase Expands Presence of "America's Body Shop" in the Southeast

CHARLOTTE, N.C. - Nov. 11, 2013 // PRNewswire // - MAACO®, part of the Driven Brands family of automotive companies, today announced the acquisition of Hahira, Georgia-based Sprayglo Auto Refinishing and Body Repair, a chain of seven shops located in Georgia, Alabama, Mississippi and Florida. The acquisition of the 27-year-old company will increase MAACO®'s presence in the southeast and is part of the brand's long-term growth strategy.

"We are committed to growing our presence through acquisitions of other brands or independents which can accelerate our exposure and growth," says Jose Costa, president, MAACO®. "Sprayglo has a compelling business model and outstanding unit economics in the region. We are excited about this addition to MAACO® family and are confident this acquisition will result in a win-win for our customers and our brand alike."

MAACO® franchisee Mulford Waldrop will purchase five of the existing Sprayglo shops -- two in Georgia (Atlanta, Leesburg); one in Florida (Fort Walton Beach); one in Alabama (Saraland); and one in Mississippi (Gulfport) -- once the transaction has been completed. Each of these shops will be converted into MAACO® centers within six months.

"I am happy to have the chance to expand my relationship with 'America's Body Shop' at this exciting time in the company's history," says Waldrop. "The brand's commitment to excellence, the franchisee family and the community at large, coupled with its plans and potential for growth offer limitless opportunity. I look forward to serving my new customers and helping them turn the cars they drive back into the cars they love."

About MAACO®

Founded in 1972, MAACO® Collision Repair & Auto Painting (www.maaco.com) repairs accident damage, dents and faded paint for approximately 500,000 drivers annually. The 450 franchises have restored the safety and beauty of all types of vehicles for over 40 years. MAACO Franchising, Inc., headquartered in Charlotte, NC, has been cited numerous times by Entrepreneur magazine as #1 in its category in the Annual Franchise 500 survey.

About Driven Brands

The Driven Brands family of automotive companies (www.drivenbrands.com), headquartered in Charlotte, NC, serves as parent company for the separate businesses: MAACO®, "America's Body Shop"; Meineke Car Care Centers® service and repair shops; Econo Lube & Tune; AutoQual®, Aero-Colours® and Drive N Style®.

Contact:

Marilyn Luna
305/731-2388
marilyn@rockorange.com

SOURCE MAACO

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