Pep Boys Enters into Definitive Agreement to Acquire Advanced Auto Service & Tire Centers in Phoenix

Pep Boys, a wholly-owned subsidiary of Icahn Automotive Group LLC, today announced that it has entered into a definitive agreement to acquire Advanced Auto Service & Tire Centers in Phoenix.

“We are pleased to increase our store density in the metropolitan Phoenix area with the acquisition of Advanced Auto Service & Tire Centers, the third largest independent automotive service chain in the market,” commented Icahn Automotive President of Service, Bill Ihnken. “This expansion of our service center network in Arizona will allow us to serve more customers in more neighborhoods, from Flagstaff in the north to Nogales in the south, with the highest quality total car care, including free services such as tire rotations, A/C checks, brake inspections and a year of roadside assistance with every tire purchased.”

Advanced, with 15 service centers, a wholesale tire business and more than 120 employees, has operated in Arizona since 1989. The majority of its locations are situated in the Phoenix area in the densely-populated East Valley, with three in the West Valley and three further north in Prescott, Prescott Valley and Flagstaff. Its shops are full service with an average of seven bays. These locations will be transitioned to Pep Boys Service & Tire Centers.

“With this acquisition, we continue to grow our national service center network, focused on providing superior customer service as well as a broad selection of tires and parts, always at a great value,” said Dan Ninivaggi, CEO of Icahn Automotive. “We welcome the outstanding Advanced team to Icahn Automotive and look forward to building on the great customer relationships they have developed over the last 28 years.”

About Pep Boys

Since 1921, Pep Boys has been one of the nation's leading automotive aftermarket chains, providing name-brand tires; automotive maintenance and repair; parts and expert advice for the Do-It-Yourselfer; commercial auto parts delivery; and fleet maintenance and repair to customers across the U.S. Pep Boys operates more than 9,000 service bays in approximately 1,000 locations in 35 states and Puerto Rico. Customers can find the nearest location by calling 1-800-PEP BOYS (1-800-737-2697) or by visiting www.pepboys.com. Pep Boys is owned by Icahn Automotive Group LLC.

About Icahn Automotive Group LLC

Icahn Automotive Group LLC was formed by its parent, Icahn Enterprises L.P. (NASDAQ: IEP), to invest in and operate businesses involved in aftermarket parts distribution and service. Our businesses have a singular focus: provide premium automotive parts and services at a great value. The businesses of Icahn Automotive Group today consist of Pep Boys, an automotive aftermarket retail and service chain, Auto Plus®, an automotive aftermarket parts distributor, Just Brakes®, an automotive service chain, and Precision Tune Auto Care, a network of owned and franchised automotive service centers.

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