Business
ADW Capital Management Proposes to Acquire Driven Brands for $18.00 Per Share in Cash
Proposal for All-Cash Transaction Represents a 42% Premium to the 30-day VWAP Urges the Board to Engage with ADW Capital and Unlock Value for All Shareholders MIAMI BEACH, Fla., April 30, 2026 (GLOBE NEWSWIRE) -- ADW Capital Management, LLC, which beneficially owns approximately 3.7% of the Common Stock of Driven Brands Holdings Inc. (NASDAQ: DRVN) (the “Company”), issued an open letter to the Company’s board of directors and controlling shareholder Roark Capital Group announcing its proposal to
About this update from Driven Brands Holdings Inc.
[{"type":"text","content":"Proposal for All-Cash Transaction Represents a 42% Premium to the 30-day VWAP","length":77,"tagName":"p"},{"type":"text","content":"Urges the Board to Engage with ADW Capital and Unlock Value for All Shareholders","length":80,"tagName":"p"},{"type":"text","content":"MIAMI BEACH, Fla., April 30, 2026 (GLOBE NEWSWIRE) -- ADW Capital Management, LLC, which beneficially owns approximately 3.7% of the Common Stock of Driven Brands Holdings Inc. (NASDAQ: DRVN) (the “Company”), issued an open letter to the Company’s board of directors and controlling shareholder Roark Capital Group announcing its proposal to acquire the Company for $18.00 per share in cash.","length":391,"tagName":"p"},{"type":"text","content":"A full copy of the letter is below:","length":35,"tagName":"p"},{"type":"text","content":"April 30, 2026","length":14,"tagName":"p"},{"type":"text","content":"Board of Directors","length":18,"tagName":"p"},{"type":"text","content":"Driven Brands Holdings Inc.440 South Church Street, Suite 700Charlotte, NC 28202","length":82,"tagName":"p"},{"type":"text","content":"and","length":3,"tagName":"p"},{"type":"text","content":"Roark Capital Group1180 Peachtree Street NE, Suite 2500Atlanta, GA 30309","length":74,"tagName":"p"},{"type":"text","content":"Members of the Board of Directors of Driven Brands Holdings Inc. and Representatives of Roark Capital Group:","length":108,"tagName":"p"},{"type":"text","content":"As we mentioned in our letter dated March 26, 2026, we are a significant stockholder of Driven Brands Holdings Inc. (NASDAQ: DRVN) (“Driven Brands” or the “Company”) and have spent considerable time analyzing its franchise system, capital structure, and strategic positioning. We have increased our position since our last letter, and now beneficially own approximately 3.7% of the Company’s Common Stock.","length":405,"tagName":"p"},{"type":"text","content":"We are disappointed that neither the Company nor Roark Capital Group (with its affiliates, “Roark”), the Company’s controlling shareholder, has even acknowledged the receipt of our prior letter and call for the Company to undertake a strategic review process. As we remain convinced of the value of Driven Brands and believe that stockholders deserve a chance to realize value for their investment, we hereby propose to acquire all the outstanding shares of Driven Brands’ Common ...