Pep Boys to Lease 109 California Stores to Advance Auto Parts
Advance Auto Parts Inc. plans to lease 109 retail stores in California from Pep Boys — Manny, Moe & Jack and convert them into Advance stores in the next nine to 12 months.
Advance says the deal does not include any Pep Boys Service Centers.
The auto parts retailer says "the agreement with Pep Boys was signed earlier this month and will enable Advance to augment its omni-channel and national footprint in a key, strategic market."
Brian Kaner, CEO of Pep Boys and the Icahn Automotive Service division, says the deal "reinforces Pep Boys Service position as a leading repair and maintenance provider for consumers and fast-growing fleets on the West Coast.
"The agreement this year will provide us with an opportunity to refresh our service center locations and reinvest in the market to meet emerging customer needs, particularly as demand for electric vehicle service grows in the region."
Plus, Kaner noted, "There’s a significant convenience advantage to having Pep Boys Service Centers located in proximity to a leading parts provider such as Advance."