Driven Brands unloads its Canadian distribution business [Seeking Alpha]
Driven Brands Holdings Inc. (DRVN)
Company Research
Source: Seeking Alpha
Financial terms of the transaction were not being disclosed. The Canadian distribution business was reported in the Driven Brands' 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. Driven Brands ( DRVN ) plans to provide further details on its third quarter earnings call. "We are confident that the business will continue to perform well under its new ownership," said Jonathan Fitzpatrick, President and Chief Executive Officer. Meanwhile, CFO Mike Diamond noted that the sale of PH will have limited impact on the company's financials, but highlighted that the transaction will reduce debt and be margin rate accretive. Shares of Driven Brands ( DRVN ) are up 0.6% on a year-to-date basis. Recommended For You More Trending News Recommended For You More Trending News About DRVN Stock Related Stocks Trending Analysis Trending News
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DRVN
News
- Driven Brands Holdings Inc. (NASDAQ: DRVN) had its price target raised by analysts at Canaccord Genuity Group Inc. from $19.00 to $20.00. They now have a "buy" rating on the stock.MarketBeat
- Kaskela Law LLC Announces Shareholder Investigation of Driven Brands Holdings, Inc. (NASDAQ: DRVN) and Encourages Long-Term DRVN Shareholders to Contact the FirmBusiness Wire
- Should You Exit Your Position in Driven Brands Holdings (DRVN)? [Yahoo! Finance]Yahoo! Finance
- Walk-On's Sports Bistreaux names third CEO in 2 years [Yahoo! Finance]Yahoo! Finance
- Driven Brands divests its Canadian distribution business [Seeking Alpha]Seeking Alpha
DRVN
Earnings
- 8/1/24 - Beat
DRVN
Sec Filings
- 8/27/24 - Form 4
- 8/9/24 - Form 4
- 8/9/24 - Form 3
- DRVN's page on the SEC website