Pep Boys - Today

Today

In 2006 major stockholders Barington Capital Group and Pirate Capital LLC, whose combined stake exceeds 25% of Pep Boys common stock, engineered a reorganization of the company's management and board of directors, citing a lack of strategy and need for change.

In May 2008, Pep Boys CEO Jeff Rachor left the company after 13 months to pursue a luxury automotive dealership venture with Michael Dell. Chief Operating Officer Michael R. Odell replaced him as CEO.

On October 13, 2009, Pep Boys acquired tire retailer Florida Tire for $4.35 million. The acquisition gave Pep Boys 10 service-and-tire centers in the Orlando market that generate sales of $14 million a year. Pep-Boys is also opening small service-only stores.

In April 2011, Pep Boys acquired 7 stores from tire retailer Big O Tires. The acquisition gave Pep Boys service-and-tire centers in Washington state.

In May 2011, Pep Boys acquired tire retailer Big 10 Tires. The acquisition gave Pep Boys an additional 85 service-and-tire centers in Georgia, Florida and Alabama, including concentrations around Atlanta and Orlando.

In June 2011, Pep Boys acquired 7 locations from automotive repair company My Mechanic. The acquisition gave Pep Boys additional locations in the Houston, Texas area.

On January 29, 2012 Pep Boys announced that it had agreed to be acquired by The Gores Group, a Los Angeles-based private equity investment company, for $15 per share, or approximately $1 billion. However, on May 30, 2012 it was announced that the acquisition would not take place.