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Mavis Tire to acquire iconic auto-service chain in $700M deal

Icahn Enterprises on Tuesday announced that the company reached a deal to sell Pep Boys to Mavis, one of the largest independent tire and service providers in the country, in a $700 million deal.Pep Boys has nearly 800 locations around the country and offers auto services including tires, repairs, oil changes and maintenance.The deal will expand Mavis' presence in new and existing markets, particularly in the western U.S. where Pep Boys has a significant presence, and will increase Mavis's network to over 4,400 service centers around the U.S. and Canada.MILLIONS OF CAR OWNERS ARE DELAYING MAIN...