Covington Represents Mavis in Acquisition of Pep Boys from Icahn Enterprises for $700 Million

NEW YORK—Covington advised Mavis Tire Express Services Corp. in its entrance into a definitive agreement pursuant to which a subsidiary of Mavis will acquire The Pep Boys-Manny, Moe & Jack Holding Corp. from Icahn Automotive Group LLC, a subsidiary of Icahn Enterprises L.P., for approximately $700 million in cash.

Mavis is one of North America's largest independent tire and vehicle service providers, with more than 3,600 owned and franchised retail locations across the U.S. and Canada. Headquartered in White Plains, New York, Mavis delivers expert automotive care—including tires and brakes, oil changes, inspections, and auto repair—through a family of trusted brands.

Pep Boys is a trusted leader in automotive services, dedicated to keeping drivers on the road with reliable maintenance and repair solutions. With nearly 800 locations across the U.S. and Puerto Rico, our team of skilled professionals, including many ASE-certified technicians, serves millions of customers each year, ranging from everyday drivers to commercial fleets.

The Covington corporate team advising Mavis included Allison Schiffman, Stephen Infante, Barbara Asiain, Alexa Walker, Ethan White, and Elif Hamutcu.