Automotive aftermarket parts chain Pep Boys (NYSE: PBY) announced today it had acquired 17 discount tire centers in Southern California from privately held AKH.
Located across the greater Los Angeles market, the tire centers will reopen on Sept. 12 as Pep Boys stores, and provide full-service vehicle maintenance and repair, including brand-name and private-label replacement tires. Pep Boys President and CEO Mike Odell said, "We aim to grow in the neighborhoods where our customers live and work through the acquisition and development of service and tire centers."
Noting that, with the acquisition, the aftermarket parts and service chain now operates 150 stores in the state, Pep Boys' senior VP for business development Joe Cirelli added, "With this acquisition, 75% of Los Angeles-area residents live within three miles of a Pep Boys location." It has more than 750 locations nationwide.
Headquartered in Philadelphia, PA, Pep Boys has more than 7,300 service bays in more than 750 locations in 35 states and Puerto Rico, and has been in operation since 1921.
