Business
Driven Brands becomes the second largest player in U.S. auto glass services in less than a year with the addition of Auto Glass Fitters
Driven Brands significantly adds to U.S. national presence and mobile capabilities with the acquisition of Auto Glass Fitters Addition of Auto Glass Fitters
About this update from Driven Brands Holdings Inc.
[{"type":"text","content":"Driven Brands significantly adds to U.S. national presence and mobile capabilities with the acquisition of Auto Glass Fitters Addition of Auto Glass Fitters enhances Driven Brands’ capabilities in higher margin services such as auto glass calibration Driven Brands’ North American Glass footprint has quadrupled in less than a year after entering the $5 billion U.S. auto glass market in early fiscal 2022 CHARLOTTE, N.C., Sept. 08, 2022 (GLOBE NEWSWIRE) -- Driven Brands Holdings Inc. (NASDAQ: DRVN) (“Driven Brands” or the “Company”) today reported the acquisition of Auto Glass Fitters, making it the second largest player in the U.S. auto glass repair, replacement, and calibration category after entering the U.S. market in early fiscal 2022. This further densifies the Company’s East Coast presence in auto glass services and significantly adds to its mobile capabilities. The $5 billion and growing auto glass services market has been a strategic growth focus for Driven Brands, and this acquisition enhances its presence in this highly fragmented, needs-based category. Leveraging operational expertise from its Canadian auto glass servicing business and its existing blueprint for growth across segments like Quick Lube and Car Wash, the Company has used its deep expertise in M&A to kickstart growth in the U.S. auto glass servicing market. At the same time, Driven Brands has built a robust pipeline of greenfield glass locations, using its proven playbook in real estate and development. With the addition of Auto Glass Fitters, the Company now serves customers across over 160 locations and almost 700 mobile units across 41 states after entering the U.S. market less than a year ago. Now part of the broader Driven Brands glass portfolio, the Auto Glass Fitters business will have access to robust shared service capabilities like data analytics, direct-to-consumer marketing, procurement, and commercial customer relationship management including the Company’s insurance and fleet relationships. “We have significant momentum across our auto glass service business, propelling us to quickly become one of the dominant players in the category. Auto Glass Fitters has been on an incredible growth trajectory growing sales 25% year-over-year with over 100% growth in glass calibration and we’re thrilled to add another phenomenal team to our growing Driven G...