Pep Boys Acquires Just Brakes

Grows National Store Footprint by 134 Locations

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Jan 23, 2017, 08:00 ET

PHILADELPHIA, Jan. 23, 2017 /PRNewswire/ -- Pep Boys announces the purchase of privately held Just Brakes (JBRE, LLC), an automotive repair and maintenance chain, increasing the number of Pep Boys auto service locations to over 900 locations.

"We are thrilled to celebrate this major milestone in the growth of our combined organization," commented Pep Boys President and Chief Executive Officer Brent Windom. "Adding to our portfolio over 130 stores in strategic locations allows us to strengthen our presence in target markets, including Dallas and Atlanta, and demonstrates our steadfast commitment to growing our Service business."

Just Brakes, in business for 36 years, has 134 locations and operates in eight states and 14 major metro markets.

"We welcome Just Brakes' talented and dedicated team of more than 500 automotive experts to the family, and we are pleased to announce Bill Ihnken, former CEO of Just Brakes, as our President of Service," Windom continued. "We look forward to working together to leverage the combined strengths of our companies, including our joint focus on taking care of customers, as we convert all Just Brakes locations into Pep Boys Service & Tire Centers, offering a full range of services, such as oil changes, tire installations, brake repair and suspension work."

"This is an exciting announcement for the Just Brakes team," commented Ihnken. "Being part of Pep Boys means we have the resources required to truly achieve our goal of providing total car care as we transition to the Pep Boys format. This conversion will afford growth opportunities to our employees and help our stores thrive while keeping our focus on providing customers the best experience and value."

"The mission of Pep Boys to be 'people taking care of people … and their cars' remains our priority as we implement our national growth strategy, which has gained significant momentum with this substantial expansion in the Service business," Windom concluded. "In the coming year, we look forward to continuing to increase our network of stores and service bays across the country as we execute our vision to be the 'first choice, expert service' provider for our family of customers at every level of the automotive aftermarket."

About Pep Boys
Since 1921, Pep Boys has been one of the nation's leading automotive aftermarket chains. With over 7,500 service bays in over 800 locations in 35 states and Puerto Rico, Pep Boys offers name-brand tires; automotive maintenance and repair; parts and expert advice for the Do-It-Yourselfer; commercial auto parts delivery; and fleet maintenance and repair. Customers can find the nearest location by calling 1-800-PEP BOYS (1-800-737-2697) or by visiting www.pepboys.com.

About Just Brakes
Established in 1980, Just Brakes has grown from a single location in Bryan, Texas to over 134 locations in eight states and 14 major markets. Services have expanded from a focus on braking systems to a total car care solution, including oil changes, maintenance services and now tires. Visit www.justbrakes.com for more information.

Caution Concerning Forward-Looking Statements

This release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, many of which are beyond our ability to control or predict. Forward-looking statements may be identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", "will" or words of similar meaning. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. We undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise.

SOURCE Pep Boys