Driven Brands Holdings Inc. (NASDAQ: DRVN) has announced the acquisition of 18 Frank’s Car Wash Express stores in South Carolina. This acquisition is the largest car wash tuck-in acquisition for Driven Brands to date and follows the 10 recently acquired Racer Classic Car Washes in Texas in May. Including these two acquisitions, Driven Brands has acquired a total of 50 car washes in 2021. Since acquiring International Car Wash Group in August of 2020, Driven Brands has acquired 67 car washes.
“We’ve been extremely pleased with the performance of the car wash segment within the Driven Brands portfolio,” said Jonathan Fitzpatrick, president and CEO of Driven Brands. “In this highly fragmented industry, our expansion efforts are just getting started. While we continue to build new car washes, this acquisition strategy complements our efforts to bring the power of Driven Brands to car washes across North America.”
Frank’s Car Wash Express has washed more than 14 million cars since 1973, and The State newspaper has voted Frank’s the “Best” car wash for 26 years in a row. It has 18 locations from the South Carolina midlands extending toward the coast.
In an earlier, separate statement, the company announced the acquisition of two Express Clean Car Wash locations, one in Hammond, LA, and the other in LaPlace, LA.
With over 250 locations in the United States, Driven Brands Car Wash is the world’s largest car wash company, operating nearly 1,000 locations in 14 countries across the United States, Europe, and Australia.