July 2026 · Mavis Tire Express Services acquires Pep Boys
Mavis buys Pep Boys: nearly 800 stores in one deal
By Clay Whitaker, Auto Shop Acquisitions
Fast facts
- Buyer:
- Mavis Tire Express Services
- Target:
- Pep Boys
- Date:
- July 2026
- Locations:
- ~800 (target); 4,400+ (buyer)
- Price:
- Roughly $700 million in cash
- Source:
- Tire Review
Mavis Tire Express Services agreed to acquire Pep Boys from Icahn Enterprises for roughly $700 million in cash, adding nearly 800 locations and pushing its network past 4,400 stores across the US and Puerto Rico.
Notably, Icahn retained the underlying real estate: Mavis bought the operating business, not the property. That structure lowers the capital outlay and lets Mavis rebrand and reposition stores on its own timeline.
Why Pep Boys was a target
- →Instant metro density: nearly 800 service and tire bays in one transaction, heavily concentrated in markets where Mavis wanted more share.
- →Pep Boys' service and repair mix complements Mavis's tire-led model, deepening the higher-margin mechanical side of the business.
- →Buying the operating company without the real estate is a capital-efficient way to add enormous scale, the kind of move only a deeply funded platform can make.
What it means for owners
The biggest players are transacting at a scale that reshapes whole markets. Every one of their moves changes the competitive math for the independent down the street. Knowing your own position and value has never mattered more.
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Reported facts via Tire Review. Commentary is our own.