Driven Brands closes $385M sale of U.S. car wash business to Whistle Express

Driven Brands Holdings Inc.

Cash proceeds of ~$255M plus $130M seller note; total consideration ~$385M subject to adjustments.
Proceeds will be used to pay down debt; company targets net leverage ≤3x by end of 2026.
U.S. car wash business will be reported as discontinued operations beginning in FY2025.
Company will focus on its Take 5 Oil Change business and stable franchise operations.

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