Following the divestiture, Driven Brands anticipates a slight decrease in same-store sales growth, but maintains its store expansion targets.

Driven Brands Holdings Inc. has decided to sell its international car wash business, IMO Car Wash, to Franchise Equity Partners for €406 million. This strategic move aims to streamline operations and reduce net leverage ratio.

Franchise Equity Partners, LP (FEP) is excited to announce its agreement to acquire IMO Car Wash, recognized as the largest tunnel car wash operator globally. This acquisition comes as a significant milestone for FEP, marking its first international foray beyond U.S. borders.

Franchise Equity Partners, LP, a dedicated player in the investment world, has just made waves with its acquisition of IMO Car Wash, a remarkable move that marks its entrance into international markets.

Charlotte-based Driven Brands will sell IMO, its international car wash business, to New York City-based Franchise Equity Partners for more than $476 million.

Charlotte-based Driven Brands will sell IMO, its international car wash business, to New York City-based Franchise Equity Partners for more than $476 million.

Franchise Equity Partners agreed to acquire IMO Car Wash, a U.K.-based car wash business with 720 locations, from Driven Brands (Nasdaq: DRVN) for €406m.

Private investment company Franchise Equity Partners (FEP) has acquired a majority stake in 7 Crew, the second-largest franchise owner of beverage chain 7 Brew Drive-Thru Coffee.

The push for premium RTD beverages is relying on real spirits and unique flavors to keep the ball rolling.

Small-town residents are longing for new food options, and Chipotle’s successful playbook is leading it and other other fast-casual restaurant chains, including Cava and Panda Express, to eye more stores in rural America.