United States. Pep Boys announced plans to lease its retail locations in Puerto Rico to AutoZone. Pep Boys stated that this action completes its mission to make quality car care simple, convenient and accessible for all customers.
"The retail conversion in Puerto Rico is the final step in Pep Boys' transition to a business model that focuses primarily on automotive services," said Scott Collette, CEO of Pep Boys.
"This further reinforces our position as a leading provider of auto repair and maintenance to fast-growing car owners and fleets in our service territories," he noted.
"The conversion gives us the opportunity to enhance the locations of our Automotive Service Centers on the island, reinvest in the emerging needs of customers in this market, and provide our Pep Boys retail team members with potential employment opportunities in AutoZone," he said.
Bill Rhodes, president and CEO of AutoZone, said, "We are excited to further expand our presence in Puerto Rico and continue to deliver on our commitment to always put our customers first."
This retail conversion allows each organization to strengthen its presence in Puerto Rico and provide a more robust, comprehensive and convenient, customer-centric automotive solution for all drivers in this territory.
