Bridgestone buying Pep Boys for about $835 million

Japanese tire giant Bridgestone’s Bloomingdale-based retail business is buying Pep Boys auto parts and maintenance stores in an $835 million deal, it announced Monday.

The acquisition will give Bridgestone about 800 additional retail stores in 35 states and Puerto Rico, adding to its own network of 2,200 tire and automotive centers in the U.S. Bridgestone’s retail stores operate under the Firestone Complete Auto Care, Tires Plus, Hibdon Tires Plus and Wheel Works brands.

Philadelphia-based Pep Boys – founded by Emanuel “Manny” Rosenfeld, Maurice L. “Moe” Strauss, W. Graham “Jack” Jackson, and Moe Radavitz – was founded in 1921 and first came to the Chicago area in 1993. Jones Day is acting as legal advisor to Bridgestone.

If you are a shareholder of Pep Boys and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ( jimb@johnsonandweaver.com ) at 619-814-4471. That’s increased demand for auto components and service centers. Bridgestone Americas, the buyer, is a subsidiary of Japan’s Bridgestone; it is perhaps best known for tire brands including Firestone and Bridgestone. Guided by its One Team, One Planet message, the company is dedicated to achieving a positive environmental impact in all of the communities it calls home. Words such as “believe”, “demonstrate”, “expect”, “estimate”, “anticipate”, “should” and “likely” and similar expressions identify forward-looking statements.

After pressure from a few members of the board, Pep Boys has found a new owner – Bridgestone.

2015, however, has been a good year for Pep Boys investors.