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Driven Brands Announces Closing of Sale of U.S. Car Wash Business

1. Driven Brands sells its U.S. car wash business to Whistle Express. 2. The sale allows focus on the profitable Take 5 Oil Change segment.

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FAQ

Why Bullish?

The sale enhances focus on profitable segments, improving overall performance, similar to past divestitures leading to stock gains.

How important is it?

The divestiture signifies strategic focus, which historically boosts shareholder value, increasing investor confidence.

Why Short Term?

Immediate financial clarity post-sale may positively influence investor sentiment, akin to previous successful restructurings.

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WHISCASHAUTO
CHARLOTTE, N.C.--(BUSINESS WIRE)--Driven Brands Holdings Inc. (NASDAQ: DRVN) (“Driven Brands” or the “Company”) today announced the completion of the sale of its U.S. car wash business to Express Wash Operations, LLC dba Whistle Express Car Wash (“Whistle”). “The completion of this transaction marks an important milestone for Driven Brands, enabling us to focus on our industry-leading Take 5 Oil Change business underpinned by our stable, cash-generating franchise businesses,” said Jonathan Fitz.

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