Driven Brands, Inc. Acquires Merlin 200,000 Miles
Acquisition Complements Current Brand Portfolio
CHARLOTTE, N.C. - Feb. 24, 2014 // PRNewswire // - Driven Brands, Inc. is proud to announce the acquisition of St. Charles-based Merlin 200,000 Mile, an automotive aftermarket franchise business. Merlin operates primarily in the suburbs of Chicago and adds 49 locations in four states to the Driven Brands portfolio. The acquisition will allow Driven to expand its presence in this important market.
"At Driven, we are committed to growing our presence through acquisitions of other brands or independents which can accelerate our exposure and growth," said Jonathan Fitzpatrick, president and chief executive officer, Driven Brands. "Merlin has a compelling business model and outstanding unit economics. We are excited about this addition to The Driven family and are confident this acquisition will result in a win-win for both customers and our brands alike."
"It was time for the full potential behind our 200,000 Miles branding to be unleashed, which only a successful national player could do. We were extremely impressed with the high levels of talent, vision, and energy within the Driven Brands executive leadership team. Driven Brands truly understands franchising as well as Merlin's ongoing commitment to both franchisees and customer" said Frank Smola, former President of Merlin 200,000 Miles.
Danny Rivera will serve as the President of Merlin 200,000 Miles. As Chief Information Officer of Driven Brands Rivera is uniquely qualified to lead this effort. By immersing himself in the Merlin brand, Rivera expects his knowledge of day-to-day operations and business leadership will enable him to guide the brand to continued success.
"Adding Merlin to the Driven portfolio gives us breadth in the Chicago market with a great brand that has unique brand positioning and excellent unit economics," says Danny Rivera, president, Merlin and chief information officer for Driven Brands. "I am looking forward to working with our franchisees to capitalize on the great brand positioning and product platforms that Merlin has built its reputation on."
About Merlin 200,000 Mile Shops
Merlin 200,000 Mile Shops offer a neighborhood approach to automotive service. THE DRIVE FOR 200,000, Merlin's comprehensive but affordable maintenance program, supports vehicle owners hundreds of thousands of miles beyond the typical OEM maintenance program and has positioned Merlin as the leader in vehicle longevity. Founded in 1975, Merlin is headquartered in St. Charles, Illinois, and operates shops in four states.
About Driven Brands
Driven Brands, (www.drivenbrands.com) headquartered in Charlotte, NC, serves as parent company for the separate businesses: MAACO(R) (a franchise-based collision repair and auto painting retail network) Meineke Car Care Centers(R) (a franchise-based automotive service and repair retail network); Econo Lube & Tune (a franchised chain of automotive repair/quick lube services) and a franchised network of mobile services consisting of AutoQual(R), Aero-Colours(R) & Drive N Style(R) (specializing in automotive interior reconditioning and maintenance, paint refinishing and restyling services for Car Dealerships). Management team members serve on the industry association boards, the IFA and AAIA.
SOURCE Driven Brands, Inc.
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