Page 19 - Driven Brand News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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Print CHARLOTTE, N.C. — Driven Brands Holdings Inc., operator and franchisor of multiple vehicle maintenance and repair businesses, reported a 35.3% gain in operating income for the year ended Dec. 26 on 50.6% higher sales, but the net result was a $4.22 million loss due primarily to higher interest expenses. The Charlotte-based company, which went public in 2020, reported $94.7 million in operating income on revenue of $904.2 million, yielding a 10.5% operating ratio. Revenue from company-operated stores represented 54% of the firm's sales last year, with a measurable portion of the incre...

This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Neal Aronson founded Roark Capital in 2001 after working in the hotel business. Roark has acquired 90 brands that have 63,000 locations and account for $54 billion in system revenues Roark is best known for its fast-food empire and brands such as Jamba, Arby's, and Dunkin'. On a winter night in Dallas in 2018, Dave Pace, the chief executive of Jamba Juice, met with Steve DeSutter, the leader of Focus Brands, for a steak dinner. DeSutter ran the emerging mult...

The firm's principal stockholders are Driven Equity L.L.C. and RC IV Cayman ICW Holdings L.L.C., both of which are controlled indirect subsidiaries of Roark Capital Partners III LP ("Roark Capital Partners III") and Roark Capital Partners IV Cayman AIV LP ("Roark Capital Partners IV"), respectively. The management team at Driven Brands comprises: Jonathan Fitzpatrick, president, CEO and board director, positions he has held since July 2012. Tiffany Mason as executive vice president and CFO, positions she has held since March 2020 Scott O'Melia, executive vice president, general counsel and ...