DRVN - Dividend announcements

--Reiterates fiscal year 2025 outlook excluding International Car Wash-- --Divestiture to reduce net leverage ratio-- Driven Brands Holdings Inc. (NASDAQ:DRVN) ("Driven Brands" or the "Company") today announced that it has entered into a definitive agreement to sell IMO, its international car wash business to Franchise Equity Partners. "This transaction sharpens our focus on what we do best — scaling Take 5 and driving consistent cash generation through our Franchise Brands," said Danny Rivera, President and Chief Executive Officer. "IMO is a good business, but it is not core to our long-term strategy. By exiting it, we simplify our portfolio, strengthen our balance sheet, and position D

Driven Brands Holdings Inc. (NASDAQ:DRVN) ("Driven Brands" or the "Company") today announced that its Board of Directors has appointed Mo Khalid as Executive Vice President and Chief Operating Officer of Driven Brands. Khalid currently serves as Executive Vice President and President of Take 5. Tim Austin, Chief Operating Officer of Take 5, will succeed Khalid as the President of Take 5. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250825013149/en/Mo Khalid, Chief Operating Officer, Driven Brands "Mo is an exceptional leader with a proven track record of success," said Danny Rivera, President and Chief Executive Officer. "As P

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.S. car wash business to Express Wash Operations, LLC dba Whistle Express Car Wash ("Whistle") for $385 million. "This transaction will enable Driven Brands to reduce debt and enhance our focus on our growing Take 5 Oil Change® brand and our stable, cash-generating franchise brands," said Jonathan Fitzpatrick, President and Chief Executive Officer. "This decision follows a deliberate and thoughtful strategic review of value-maximizing options for the U.S. car wash business, and w

CHARLOTTE, N.C., Aug. 22, 2023 /PRNewswire/ -- Driven Brands Holdings Inc. (NASDAQ:DRVN) ("Driven Brands" or the "Company") today announced that its Board of Directors has authorized the Company, at its discretion, to repurchase up to $50 million of its common shares outstanding through March 31, 2025. The share repurchase will be funded through a combination of cash on hand, cash flow from operations, and the Company's revolving line of credit.  Share repurchases under the authorization may be effected on behalf of the Company through open market transactions, privately negot

CHARLOTTE, N.C., May 18, 2023 /PRNewswire/ -- Driven Brands Holdings Inc. (NASDAQ:DRVN) ("Driven Brands" or the "Company") today announced it is rescheduling its Investor Day, originally planned for May 23, 2023. The Company will hold the event in September 2023. The change in timing is primarily due to the Company's recent CFO transition. As previously announced, Gary W. Ferrera was appointed as Chief Financial Officer, effective May 10, 2023, bringing approximately 20 years of financial leadership experience and M&A expertise to Driven Brands. In light of this, the Company b

Gary W. Ferrera Appointed Chief Financial OfficerCompany Reaffirms Fiscal 2023 Guidance CHARLOTTE, N.C., May 8, 2023 /PRNewswire/ -- Driven Brands Holdings Inc. (NASDAQ:DRVN) ("Driven Brands" or the "Company"), the largest automotive services company in North America, today announced that Gary W. Ferrera has been appointed Executive Vice President and Chief Financial Officer, effective May 10, 2023. Ferrera will report to President and Chief Executive Officer Jonathan Fitzpatrick and succeeds Tiffany Mason. "Gary is a proven leader who brings deep experience leading financial

Take 5 Car Wash® completed rebranding of over 200 stores; on track to full rebrand by end of year Take 5 Oil Change® signs 1,000th franchise license; on track to double footprint over the next 3-4 years CHARLOTTE, N.C., Jan. 31, 2023 /PRNewswire/ -- Driven Brands Holdings Inc. (NASDAQ:DRVN), the largest automotive aftermarket company in North America, today announced the grand opening of its tenth Take 5 co-development in Concord, North Carolina. Bringing Take 5 Oil Change and Take 5 Car Wash together in one location simplifies the car care experience for customersBringing Tak

Take 5 Oil Change® expands total footprint to over 800 locations across the U.S. and Canada, with over 950 additional locations in pipeline, providing a multiyear runway for growth CHARLOTTE, N.C., Oct. 6, 2022 /PRNewswire/ -- Driven Brands Holdings Inc. (NASDAQ:DRVN) ("Driven Brands" or the "Company") the largest automotive aftermarket company in North America, announced today that Take 5 Oil Change® opened its 200th U.S. franchised location this week, in Hutto, Texas. Ranked in Entrepreneur magazine's 2022 list of the Fastest-Growing Franchises, Take 5 Oil Change® has doubled its U.S. franchise store count over the last year. Since acquiring Take 5 Oil Change® in 2016 with its differentia

CHARLOTTE, N.C., Oct. 5, 2022 /PRNewswire/ -- Driven Brands Holdings Inc. (NASDAQ:DRVN) ("Driven Brands" or the "Company") announced today that it has closed an offering by certain of its subsidiaries for $365 million Series 2022-1 Fixed Rate Senior Secured Notes, Class A-2 (the "Notes") maturing October 2027, increasing the offering by over 30 percent. In addition to the closing of the Notes, Driven Brands also increased the total capacity under the Variable Funding Notes to $250 million, after certain conditions are met, through the addition of $135 million Series 2022-1 Class A-1 Notes.   Driven Brands plans to use the net proceeds from the Notes for general corporate purposes, including