Driven Brands Announces Sale of Its Canadian Distribution Business Page 1

Driven Brands Holdings Inc. (NASDAQ: DRVN) (“Driven Brands” or the “Company”), the largest automotive services company in North America, today announced the sale of its Canadian distribution business, primarily operated under the PH Vitres d’Auto (“PH”) brand, to PGW Auto Glass, a leading North American glass distributor, effective August 31, 2024. Terms of the transaction are not being disclosed.

The Canadian distribution business was reported in the company’s Platform Services segment. Net proceeds from the transaction will generally be used to repay debt. The sale is expected to have minimal impact on the company’s outlook for fiscal 2024. The company will provide more details during its third-quarter earnings call.