Mavis Buys Pep Boys for $700 Million as Icahn Exits 10-Year Bet

Q: After a century of service, will the iconic Pep Boys brand be retired by its new owner?

No. Based on the deal details and public statements around the sale, Pep Boys is expected to remain in operation as a brand under Mavis Tire Express Services, not be retired. The strongest evidence is from the companies themselves. Mavis co-CEO David Sorbaro described Pep Boys as “one of the most well-respected names in the automotive aftermarket” and said Mavis looked forward to welcoming it into its “family of brands,” language that points to preservation rather than elimination. Pep Boys CEO Joe Auriemma likewise said the chain would use Mavis’s scale and technology to “continue building on its legacy,” again signaling continuity. The strategic logic of the acquisition also supports that view. Pep Boys brings nearly 800 service locations, a loyal customer base, and a distribution network that Mavis says will strengthen its national supply chain. Those are assets typically enhanced, not discarded, especially when the buyer already operates multiple banners. There is no indication in the reported terms that Mavis plans an immediate rebrand. Coverage of the transaction specifically noted that no plans to rebrand Pep Boys locations were disclosed. While branding decisions can change over time after a takeover, the available evidence suggests Mavis intends to keep Pep Boys as a distinct name within its larger portfolio as the deal closes in the coming months.

3 articles · Updated · The Philadelphia Inquirer · Jul 21

$700 million in cash will buy Pep Boys from Icahn Enterprises, with Mavis saying the chain will keep its brand and join its network in the coming months after closing conditions are met.
More than 750 Pep Boys locations lift Mavis's footprint above 4,400 service centers, while Pep Boys also adds a nationwide distribution network that Mavis says will strengthen its supply chain.
Icahn Enterprises is keeping Pep Boys' owned real estate along with Aamco Transmissions and Precision Tune Auto Care, narrowing the sale to the operating business.
The exit comes a decade after Icahn outbid Bridgestone at $1 billion for Pep Boys and after his auto segment posted a 3% 2025 revenue decline to $1.4 billion amid store closures and weaker repair spending.