Driven Brands, Inc., the parent of Meineke Car Care Centers, Econo Lube N’ Tune, AutoQual, Aero Colours, Drive N Style, and Tortal.net, announced today the acquisition of Pennsylvania-based Maaco Franchising, Inc., the market leader in franchised auto body repair and painting.

Under the visionary leadership of founder Anthony A. Martino and the superb performance of its franchisees, Maaco has achieved a market position and reputation unrivaled by its competitors. With nearly 500 facilities in the US and Canada, Maaco provides extraordinary service and value to customers with vehicles requiring cosmetic collision or paint repairs. With the passing of 75-year-old Anthony Martino in January of this year, Mark A. Martino assumed the Chairman position. Together with President David M. Lapps, both are committed to carry on the Maaco tradition of excellence, service and market leadership.

Regarding the strategic acquisition of Maaco, Kenneth D. Walker, CEO of Driven Brands, said, “An acquisition of this magnitude and caliber represents a significant upside opportunity for Maaco and the entire Driven Brands portfolio. Sharing best practices across franchise systems and strengthening our buying power will allow for even greater profitability and future growth.

”This is the third Driven Brands’ acquisition this year along with the AutoQual and Drive N Style companies, both purchased this past February.

Walker added, “Our success continues to improve both organically and by adding great brands because the companies share a common franchise-based business model in the automotive aftermarket.”

Maaco Executive Mark A. Martino, with the company since its founding in 1972, will assume the position of Co-Chairman of Maaco Franchising, Inc. “Our destiny is to become the market leader in the auto body industry as well as recognized by our customers as delivering great quality at a great value,” he said. “Driven Brands shares our vision and has the resources and the management team which best complements our progress toward continued growth.

”President David M. Lapps, with Maaco since 1974, commented, “The acquisition will not change our day-to-day operations. As far as our customers and franchisees are concerned, the transaction should be seamless. We hope and expect that there will be changes in the future which help us to further improve our systems and our leading market position.”