NEW YORK (Reuters) - Pep Boys-Manny Moe & Jack
, the Philadelphia-based auto parts retailer, has hired
Bank of America to explore a sale of the company,
Bloomberg reported Friday.
Pep Boys is not likely to run a formal sale process, but is
trying to drum up interest among private equity buyers such as
Leonard Green & Partners, Bain Capital and TPG Capital
[TPG.UL], according to the report.
Separately, a person familiar with the matter told Reuters
Friday that Pep Boys had hired Goldman Sachs to sell
itself in the past, but the process did not result in a sale.
The company started exploring a potential sale again late
last year, but several private equity firms have shown limited
interest in buying the company, that source said.
(Reporting by Soyoung Kim; Editing by Lisa Von Ahn)
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