Pep Boys to Explore Alternative Business Structures

The Pep Boys – Manny, Moe & Jack (NYSE: PBY), the nation’s leading automotive aftermarket service and retail chain, has announced that its Board of Directors has commenced a review of strategic alternatives to enhance shareholder value, including a possible sale, merger or other form of business combination or strategic transaction.

The Board will be assisted in its review by Rothschild Inc. as its financial advisor and Morgan, Lewis & Bockius LLP as its legal advisor, each of whom has been advising the Board in connection with the various inquiries that have been previously received from third parties expressing an interest in a potential transaction.

The Board has determined that, in light of these inquiries, it is appropriate to conduct a strategic review that evaluates Pep Boys’ current long-term business plan against a broad range of alternatives that have the potential to enhance shareholder value.

There is no set timetable for the strategic review process. Further, Pep Boys has not made a decision to pursue a transaction.

There is some history — a lot of it.  Since 1921, Pep Boys has been the nation’s leading automotive aftermarket chain. With over 7,500 service bays in over 800 locations in 35 states and Puerto Rico, Pep Boys offers name-brand tires; automotive maintenance and repair; parts and expert advice for the Do-It-Yourselfer; commercial auto parts delivery; and fleet maintenance and repair.

Category: Featured, General Update