The business primarily operated under the PH Vitres d’Auto brand and was acquired by PGW Auto Glass, a North American glass distributor
Charlotte, N.C.—Driven Brands Holdings Inc., the largest automotive services company in North America, has announced the sale of its Canadian distribution business, primarily operated under the PH Vitres d’Auto brand, to PGW Auto Glass, a North American glass distributor. Terms of the transaction are not being disclosed.
The Canadian distribution business was reported in the company’s Platform Services segment. Net proceeds from the transaction generally will be used to pay down debt. The sale is expected to have minimal impact on the company’s fiscal year 2024 outlook. The company will provide further details on its third quarter earnings call.
“I want to thank Richard Jutras, President of PH, and the entire team at PH for being great partners over the last five years. We are confident that the business will continue to perform well under its new ownership,” said Jonathan Fitzpatrick, President and Chief Executive Officer.
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