MAACO® Acquires 1-Day Paint & Body Centers Purchase Represents Largest Brand Acquisition in MAACO® History
CHARLOTTE, N.C., Oct. 29, 2013 /PRNewswire/ -- MAACO®, part of the Driven Brands family of automotive companies, today announced the acquisition of Torrance, California-based 1-Day Paint & Body Centers (1-Day), a highly-respected, 47-year-old brand that has been owned and operated by the Uribe family.
1-Day operates 24 centers in California, Nevada and New Mexico: 19 locations in the greater Los Angeles area, one in San Diego, two in Las Vegas and two in Albuquerque. Most 1-Day locations will be converted to MAACO® Collision Repair & Auto Painting Centers over the next three to six months. The acquisition will triple MAACO®'s presence in southern California, a top growth market for the company, as well as merge the best practices and technical expertise of these two great brands.
When the deal closed on October 25, 2013, as part of the purchase, 16 Centers in Southern California were franchised to existing MAACO® franchisees Matt and Caroline Peach, making them the largest franchisee in the MAACO® system. In addition, four 1-Day Centers in southern California will be franchised to four current MAACO® operators and four centers – two in Las Vegas and two in Albuquerque – will be franchised to two local MAACO® operators, respectively.
"We couldn't be more excited about our new centers and the opportunity for growth in the region," says Jose Costa, president, MAACO®. "We are grateful to our partner, Sherwin-Williams, who is supporting the transition and will act as our supplier of choice for all former 1-Day locations. With them and great operators like the Peaches on our team, we look forward to providing quality craftsmanship to even more customers as well as becoming valued contributors to the additional communities we will now serve."
Founded in 1972, MAACO® Collision Repair & Auto Painting (www.maaco.com) repairs accident damage, dents and faded paint for approximately 500,000 drivers annually. The 450 franchises have restored the safety and beauty of all types of vehicles for over 40 years. MAACO Franchising, Inc., headquartered in Charlotte, NC, has been cited numerous times by Entrepreneur magazine as #1 in its category in the Annual Franchise 500 survey.
About Driven Brands
The Driven Brands family of automotive companies (www.drivenbrands.com), headquartered in Charlotte, NC, serves as parent company for the separate businesses: MAACO®, "America's Body Shop"; Meineke Car Care Centers® service and repair shops; Econo Lube & Tune; AutoQual®, Aero-Colours® and Drive N Style®.
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