Driven Brands (DRVN) announced that it has entered into a definitive agreement to sell its U.S. car wash business to Express Wash Operations

Driven Brands Holdings Inc. (NASDAQ: DRVN) ("Driven Brands" or the "Company"), the largest automotive services company in North America, today announced that it has entered into a definitive agreement to sell its U.

Driven Brands Holdings has struck a deal to sell its U.S. car wash business for $385 million, and also named a new chief executive.

Stifel analyst Chris O’Cull notes that Driven Brands (DRVN) reported “stable” Q4 results and believes that the sale of the car wash business

Driven Brands (NASDAQ:DRVN) has named its current chief operating officer Daniel Rivera as president and chief executive officer, effective May 9, 2025. Rivera takes over from Jonathan Fitzpatrick, who has stepped down from the roles.