Pep Boys buys 17 AKH stores in L.A. area

PHILADELPHIA (Sept. 9, 2016) — Pep Boys - Manny, Moe & Jack has acquired 17 Discount Tire Centers in Southern California from AKH Co. Inc. and will reopen them this week under Pep Boys Service & Tire Center store identification.

The 17 stores acquired are in the greater Los Angeles market, from Bakersfield to Orange County, Pep Boys said. Financial terms of the deal were not disclosed.

Prior to this deal, Anaheim, Calif.-based AKH Co. Inc. listed 55 stores throughout Southern California, including 10 or so that are affiliate stores.

The dealership did not comment on the deal or its plans following the divestiture.

Adding these 17 stores will bring to nearly 150 the number of Pep Boys locations in California and more than 750 nationwide, the Philadelphia-based tire retailer and auto service provider said. Among the 750 will be more than 200 Service & Tire Center-badged locations after this conversion.

Pep Boys did not comment on the revenue scale of the acquired stores or on the number of employees affected.

"We are excited to add these convenient service locations for customers and welcome new associates to the Pep Boys family," said Pep Boys President and CEO Mike Odell. "We aim to grow in the neighborhoods where our customers live and work through the acquisition and development of Service & Tire Centers."

"With this acquisition, 75 percent of Los Angeles-area residents live within three miles of a Pep Boys location," noted Joe Cirelli, senior vice president for business development.

The stores acquired are in Bakersfield (two locations); Costa Mesa; Downey; Hollywood; Lakewood; Orange; Rancho Cucamonga; Rialto; San Clemente: Santa Ana; Studio City; Temecula; Torrance; Tujunga; West Los Angeles; and Whittier.

AKH, founded in 1976 by the Andonian family, controls the Discount Tire name in Southern California.