Supply chain World Volume 9 Issue 11 Lee Protheroe.pdf | Page 105

... in the shape of Driven Brands Car Wash , the company boasts the world ’ s largest local car wash conglomerate

though , there has been some cause for celebration , following the arrival of a significant company milestone in January 2021 : its initial public offering . Better yet , it proved successful , becoming the first retail IPO over $ 500 million to price $ 2 above the range in Wall Street history , and the highest file-to-offer of any consumer and retail IPO over $ 500 million .

Neither was this the company ’ s only recent success . In 2021 , Driven Brands completed the acquisition of its 100th car wash – and then followed it up with another , in May 2022 , with the announcement that it was set to open its 350th express car wash , in Little Rock , Arkansas . In the case of the latter , the new location represents the seventh greenfield the company has opened in 2022

alone , and its 150th in total , following its initial acquisition of the former International Car Wash Group ( ICWG ) just 18 months ago . Even then , the good news kept on coming ; just this June , Driven Brands took the decision to expand its auto glass offering , thanks to the acquisition of familyowned Indiana-based Perfection Auto Glass , in what is a critical move to acquire further shares in an addressable North American market valued at approximately $ 5 billion .
Driven Brands first entered into the glass business in 2019 , acquiring Canadian company Uniban . The company now operates more than 300 glass locations , making it one of the largest auto glass service providers in North America . The addition of Perfection Auto Glass will serve to enhance Driven Brands ’ growing footprint and , importantly , introduces yet another strong business deeply embedded within its community to the Driven Brands family .
Moving forward , the hope within Driven Brands is that the company will continue to roll out franchises across North America . To do so , it will rely on the ongoing success of its rewarding franchise scheme – one that

... in the shape of Driven Brands Car Wash , the company boasts the world ’ s largest local car wash conglomerate

promises not only outstanding earning potential , but a comprehensive training program , territory protection , and ongoing support and assistance . At the same time , the company is supported by a world class team , organized around a set of five core values : being bold , meritocracy , inclusivity , integrity , and fun – values which empower the company ’ s employees to overcome any challenges that present themselves . In any case , it seems there ’ s little arguing with the Driven Brands trajectory , which seems bent on just a single direction : upwards . In the coming years , through hard work , courage , focus , and determination , the company ’ s goal is to establish its position as the best automotive franchise in the world . ■

www . drivenbrands . com
Driven Brands
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