Tags:

Pep Boys Hires Advisor to Explore Sale-report

Friday, 21 January 2011 12:49 PM EST

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)

© 2024 Thomson/Reuters. All rights reserved.


Companies
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 reportedFriday. Pep Boys is not likely to run a formal sale process, but is trying to drum up interest...
136
2011-49-21
Friday, 21 January 2011 12:49 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved