Driven Brands Holdings Inc. (NASDAQ: DRVN) announced that it has closed an offering by its subsidiaries for $275 million of Series 2024-1 Fixed Rate Senior Secured Notes, Class A-2 (A-2 Notes) maturing October 2054 and with an anticipated repayment date in October 2031. The proceeds from the issuance will be used to refinance the Company’s […]
Auto Glass Now Announces Regional Insurance Partnerships in Florida
Auto Glass Now, part of Driven Brands (NASDAQ: DRVN) and the second largest provider of auto glass services in the U.S., continues to execute its strategy to establish and grow relationships with regional insurance providers. Earlier this year, Auto Glass Now added two agencies located in Florida, GreatFlorida Insurance and Pearl Holding Group, as partners. […]
Driven Brands Joins AutoBody Alliance’s Direct Repair Network
Driven Brands and AutoBody Alliance (ABA) announced they have joined forces to expand the AutoBody Alliance’s service network of autobody repair facilities throughout the U.S “We are excited to work closely with the team at Driven Brands because of their influence in the marketplace the past 50 years, as well as their extensive experience in […]
Driven Brands Reports Revenue of $572 Million in First Quarter
Driven Brands Holdings Inc. (NASDAQ: DRVN) reported revenue of $572 million for the first quarter of 2024 ended March 30, up 2% versus the prior year quarter. System-wide sales were $1.6 billion, up 7% versus the prior year primarily driven by 0.7% same store sales growth and 144 net new units. System wide sales in […]
Driven Brands Reports Revenue Up 13% to $2.3 Billion for 2023
Revenue increase result of 7% same-store sales growth and 4% net store growth. Paint, Collision & Glass segment same store sales up 6.4%. Driven Brands Holdings Inc. (NASDAQ: DRVN) announced revenue the fiscal year ended December 30, 2023 of $2.3 billion, up 13% versus the prior year. System-wide sales were $6.3 billion, up 12% versus […]
Driven Brands Collision Repair Group Celebrates $5 Million Milestone in Cystic Fibrosis Fundraising
The Driven Brands collision repair group, consisting of Abra, CARSTAR US, CARSTAR Canada, and Fix Auto USA, announced its North American milestone of raising over $5 million for cystic fibrosis research, care, and advocacy. CARSTAR began fundraising for cystic fibrosis (CF) in Canada over 25 years ago, when a franchise partner’s granddaughter was diagnosed with […]
Best Buy Exec Damien Harmon Joins Driven Brands Board of Directors
Driven Brands Holdings (NASDAQ: DRVN) announced the election of Damien Harmon to its Board of Directors, effective January 1. Harmon will also serve as a member of the Compensation Committee. “We’re thrilled to have Damien join our Board,” said Jonathan Fitzpatrick, CEO and President of Driven Brands. “His deep experience in competitive and evolving retail […]
Driven Brands Launches Online B2B Marketplace
Driven Brands (NASD: DRVN) announced the launch of Driven Advantage, a new B2B digital marketplace powered by the Mirakl Platform. The new B2B marketplace connects Driven Brands’ 5,000+ automotive corporate locations, shop owners, franchises, and affiliates with more than 80,000 handpicked products from third-party suppliers. According to the company, the average automotive service center with […]
Driven Brands Reports Revenue Up 12% in Third Quarter Compared to Last Year
Revenue increase was due to 6% same-store sales growth and 6% net store growth. Driven Brands Holdings Inc. (NASDAQ: DRVN) delivered revenue of $581.0 million for the third quarter ended September 30, up 12% versus the prior year. System-wide sales were $1.6 billion, up 10 percent versus the prior year driven by 6 percent same-store […]
Annual Award Winners Announced at Driven Brands Collision Repair Conference
Abra, CARSTAR and Fix Auto USA franchise partners continued their collective celebration Friday in Florida as part of the 2023 Evolution Conference, the inaugural Driven Brands U.S. collision repair joint conference, along with Driven Brands team members, vendors, and industry leaders from across the U.S. The event was capped off by the awards gala where […]
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