Driven Brands Announces the Sale of its Canadian Distribution Business [Yahoo! Finance]
Driven Brands Holdings Inc. (DRVN)
Company Research
Source: Yahoo! Finance
automotive services company in North America, today announced the sale of its Canadian distribution business, primarily operated under the PH Vitres d'Auto brand ("PH"), to PGW Auto Glass, a leading North American glass distributor, effective August 31, 2024. Terms of the transaction are not being disclosed. The Canadian distribution business was reported in the Company's Platform Services segment. Net proceeds from the transaction generally will be used to pay down debt. The sale is expected to have minimal impact on the Company's fiscal year 2024 outlook. The Company will provide further details on its third quarter earnings call. "I want to thank Richard Jutras, President of PH, and the entire team at PH for being great partners over the last five years. We are confident that the business will continue to perform well under its new ownership," said Jonathan Fitzpatrick, President and Chief Executive Officer. Mike Diamond, EVP and Chief Financial Officer added, "Driven Brands
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DRVN
News
- Driven Brands to Participate in the Morgan Stanley Global Consumer & Retail ConferenceBusiness Wire
- Driven Brands Holdings Inc. (NASDAQ: DRVN) had its price target raised by analysts at Stifel Nicolaus from $20.00 to $22.00. They now have a "buy" rating on the stock.MarketBeat
- We Think Driven Brands Holdings' (NASDAQ:DRVN) Profit Is Only A Baseline For What They Can Achieve [Yahoo! Finance]Yahoo! Finance
- Priciest home sale around Rock Hill wasn't for the usual suspects but in a tiny town [Yahoo! Finance]Yahoo! Finance
- Driven Brands Holdings Inc. (NASDAQ: DRVN) had its price target raised by analysts at Royal Bank of Canada from $17.00 to $20.00. They now have an "outperform" rating on the stock.MarketBeat
DRVN
Earnings
- 10/31/24 - Beat
DRVN
Sec Filings
- 11/20/24 - Form 8-K/A
- 11/12/24 - Form SCHEDULE
- 11/7/24 - Form 10-Q
- DRVN's page on the SEC website