Charlotte, North Carolina — Driven Brands announced the expansion of its auto glass offering into the United States Tuesday with its acquisition of Auto Glass Now (AGN).
The company acquired AGN for approximately US$170 million on Dec. 30, 2021. The acquisition makes Driven Brands one of largest auto glass service providers in North America, said the company in its press release.
AGN will be reported in Driven Brands’ Paint, Collision, and Glass segment, adding over 75 company-operated locations. Fiscal 2021 revenue for AGN is expected to be approximately US$85 million, and the business generates EBITDA margins of approximately 25 percent.
“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 leverage our proven playbook of consistent and repeatable growth to continue capturing market share.”
Driven Brands first entered the glass business in Canada in 2019 and now operates over 300 glass locations in both the United States and Canada.
According to Driven Brands, AGN has more than 20 years of experience in auto glass repair, replacement and calibration with more than 75 locations across the United States.