Midas Inc. Buying Company That Franchises SpeeDee Centers

NOLA.com:

Automotive services company Midas Inc., has bought the assets of G.C. & K.B. Investments, Inc., the New Orleans-based company that franchises SpeeDee oil change centers for $20.8 million.

Midas said in a news release Tuesday that it would continue operating the SpeeDee Oil Change and Tune-Up franchises under their existing name but would begin offering certain services and products under the Midas brand.

Midas‘ main business involves brake service, while SpeeDee’s main business stems from oil changes and other fluid replacements. Alan Feldman, Midas‘ chairman and chief executive, said the acquisition would help round out his company’s maintenance offerings.

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