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Tuesday, 04 January 2022 08:16

Driven Brands Expands Auto Glass Offering into the U.S.

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Driven Brands Holdings Inc., North America’s largest automotive services company, announced the expansion of its auto glass offering into the U.S. with the acquisition of Auto Glass Now® (AGN).

AGN is an industry leader, backed by more than 20 years of experience, in auto glass repair, replacement and calibration with more than 75 locations throughout the U.S.

 

The total addressable market for auto glass repair in North America is approximately $5 billion and growing. This acquisition makes Driven Brands one of the largest auto glass service providers in North America.

 

"The automotive aftermarket is evolving, and we are incredibly bullish that glass services will be a key beneficiary of that evolution,” said Jonathan Fitzpatrick, president and CEO, Driven Brands. “The growth and highly fragmented nature of auto glass services makes our entrance into the U.S. market an ideal strategic investment for Driven Brands.”

 

AGN will be reported in Driven Brands’ paint, collision and glass segment, adding more than 75 company-operated locations. Fiscal 2021 revenue for AGN is expected to be approximately $85 million, and the business generates EBITDA margins of approximately 25%.
 
“Glass repairs are growing as a percentage of auto repairs and repair complexity is increasing due to the necessary calibration,” said Michael Macaluso, EVP of Driven Brands and group president, paint, collision and glass. “Glass presents another exciting opportunity to...


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