Announces CEO transition and car wash business sale.
Driven Brands Holdings Inc. (NASDAQ: DRVN), the parent of CARSTAR and MAACO, announced its fourth quarter and full-year 2024 financial results on February 25, while also revealing plans for a CEO transition and the sale of its U.S. car wash business.
For 2024, Driven Brands delivered revenue of $2.34 billion, representing a modest 2% increase compared to $2.3 billion in 2023. System-wide sales rose 4% to $6.5 billion, driven by a 1% increase in same-store sales and 4% growth in store count. This marks a slowdown from 2023, when the company reported
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