David Sorbaro & Stephen Sorbaro Acquire Pep Boys From Icahn Enterprises For $700 Million

A package deal involving the sale of Pep Boys took place at 3111 West Allegheny Avenue in Philadelphia, PA. The asset was sold for $700 million, conducted by Icahn Enterprises to Mavis Tire Express Services, which sought to expand its operations in the North American automotive service market.

Summary of transaction details:

• Property Type: Package Deal
• Transaction Amount: $700,000,000
• Buyer: David Sorbaro & Stephen Sorbaro - Mavis Tire Express Services
• Seller: Icahn Enterprises
• Date of Transaction: 07/21/2026

The transaction was spearheaded by David Sorbaro and Stephen Sorbaro, both associated with Mavis Tire Express Services. The acquisition aims to enhance Mavis Tire's presence with the integration of an 800-location auto service chain primarily targeting the western United States market.