SEATTLE — Icahn Automotive Group L.L.C. has acquired Elliott Tire & Automotive Service Inc., a Seattle-based independent tire dealership with 10 stores throughout Washington, and has more acquisitions in the works.
Financial terms were not disclosed. The stores will be rebranded with Icahn's Pep Boys — Manny, Moe & Jack brand. Icahn Automotive operates 11 other Pep Boys outlets in Washington.
Founded in 1978, Elliott Tire operates four stores in Seattle along with locations in Everett, Kent, Kirkland, Mt. Vernon, Woodinville and Yakima, Wash.
The dealership is a Goodyear Tires & Service Network-affiliated company and features Goodyear-, Dunlop- and Kelly-brand tires.
The deal is the latest in a series of high-profile acquisitions Icahn Automotive has carried out this year. Others include:
- American Driveline Systems (ADS) — franchisor of the AAMCO Total Car Care and Cottman Transmission & Total Auto Care businesses — totaling 680 outlets
- Precision Auto Care Inc., franchisor of the Precision Tune Auto Care automotive service business — roughly 250 Precision Tune stores in the U.S. and 65 more locations outside the U.S., including five in Mexico.
- Advanced Auto Service & Tire Centers of Phoenix (15 retail stores);
- Mathis Tire & Auto Service and Direct Tire Distributors in Memphis (12 retail stores and a 6,000-unit warehouse);
- Just Brakes L.L.C. (134 stores throughout the U.S. southern tier).
Southfield, Mich.-based Icahn Automotive indicated it would announce more acquisitions before year-end.