Driven Brands Holdings Inc. (NASDAQ: DRVN) today announced the sale of its Canadian auto glass distribution business, primarily operated under the PH Vitres d’Auto brand (PH), to PGW Auto Glass, a North American glass distributor, effective August 31. Terms of the transaction are not being disclosed.
Based in Sainte-Perpetue, Quebec, PH Vitres employs more than 300 associates at 22 locations across Quebec, Ontario, New Brunswick and Nova Scotia.
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
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