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Acquisitions and Dispositions (Tables)
9 Months Ended
Sep. 24, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Estimated Purchase Price Allocation The provisional amounts for assets acquired and liabilities assumed for the 2022 acquisitions are as follows:
Paint, Collision & Glass Segment
(in thousands)Auto Glass Fitters Inc.Jack Morris Auto GlassK&K GlassAll Star Glass
Auto Glass Now
All Other Paint, Collision & Glass
Total PC&G
Assets:
Cash— — 7,553 7,564 
ROU Asset— — — — 690 — 690 
Operating lease ROU Asset— — — 734 10,003 — 10,738 
Prepaid rent— — — — 327 30 357 
Land— — — — 23 — 23 
Equipment— 1,200 1,500 537 428 902 4,567 
Vehicles417 — — — 453 — 870 
Furniture and Fixtures— — — — 40 — 40 
Inventory— 1,067 500 546 — 27 2,140 
Accounts and Notes receivable— 1,069 — 2,436 — — 3,505 
Prepaid expenses— — — 250 — — 250 
Other Assets974 — 56 — — 1,035 
Leasehold improvements— — — — — — — 
Intangible asset - trade name800 400 400 600 36,800 — 39,000 
Intangible - customer relationships19,800 15,700 16,200 8,100 12,200 — 72,000 
Deferred tax assets— — — — — 71 71 
Assets acquired21,991 19,439 18,656 20,761 60,971 1,032 142,850 
Liabilities:
Prepaid liability174 294 111 — — — 579 
Trade Payable— — — 1,911 — — 1,911 
Accrued Expenses and other long-term liabilities— — — 303 — — 303 
Taxes Payable— — — 272 — — 272 
Long Term Debt- Current— — — 46 — — 46 
Long Term Debt— — — 59 — — 59 
Lease liability— — — 733 — — 733 
Operating lease liability - Current— — — — 3,017 — 3,017 
Operating lease liability - Non-current— — — — 6,987 — 6,987 
Total liabilities assumed174 294 111 3,324 10,004  13,907 
Net assets acquired21,817 19,145 18,545 17,437 50,967 1,032 128,943 
Total consideration70,826 54,853 39,945 43,740 170,636 9,382 389,382 
Goodwill49,009 35,708 21,400 26,303 119,669 8,350 260,439 
Car Wash Segment

(in thousands)Speedy Shine Express Car WashJimmy Clean Car WashAll Other Car Wash Total Car Wash
Assets:
Cash49 59 
Land1,560 1,900 16,600 20,060 
Land improvements— — — — 
Building12,060 9,290 104,630 125,980 
Car wash equipment2,580 2,210 17,808 22,598 
Deferred tax assets12 2,116 740 2,868 
Assets acquired16,216 15,522 139,827 171,565 
Liabilities:
Prepaid Liability110 423 541 
Total liabilities assumed8 110 423 541 
Net assets acquired16,208 15,412 139,404 171,024 
Total consideration33,496 31,896 201,401 266,793 
Goodwill17,288 16,484 61,997 95,769 

Maintenance Segment
(in thousands)Maintenance
Assets:
Cash$
Prepaid rent$— 
Land$510 
Land improvements$— 
Building$3,845 
Car wash equipment$485 
Inventory$226 
Prepaid expenses$71 
Deferred tax assets$55 
Assets acquired$5,193 
Liabilities:
Total liabilities assumed$168 
Net assets acquired$5,025 
Total consideration$20,517 
Goodwill$15,492 
The amounts for assets acquired and liabilities assumed for the 2021 Car Wash Acquisitions (which are provisional unless otherwise noted with an *) are as follows:
(in thousands)Magic Tunnel Car WashFranks Car Wash Express*Racer Classic Car Wash*All OtherTotal Car Wash
Assets:
Cash$26 $38 $18 $165 $247 
Right of use assets— — 2,587 12,277 14,864 
Land and improvements13,020 10,790 6,920 45,455 76,185 
Building48,380 48,570 31,490 270,155 398,595 
Equipment13,800 7,377 5,698 59,578 86,453 
Inventory— — 311 — 311 
Intangibles, net700 800 550 — 2,050 
Deferred tax assets— 94 — 1,596 1,690 
Assets held for sale— — — 996 996 
Assets acquired75,926 67,669 47,574 390,222 581,391 
Liabilities:
Accrued liability— 50 155 304 509 
Lease liability— — 2,687 12,277 14,964 
Deferred tax liabilities— — 758 — 758 
Liabilities assumed— 50 3,600 12,581 16,231 
Net assets acquired75,926 67,619 43,974 377,641 565,160 
Total consideration88,026 106,558 64,843 472,721 732,148 
Goodwill$12,100 $38,939 $20,869 $95,080 $166,988 
The finalized amounts for assets acquired and liabilities assumed for the 2021 Maintenance Acquisitions are as follows:
(in thousands)
Assets:
Cash$
Land and improvements4,425 
Building13,220 
Equipment1,450 
Inventory200 
Deferred tax assets90 
Asset held for sale3,275 
 22,662 
Liabilities:
Prepaid liability52 
Liabilities assumed52 
Net assets acquired22,610 
Total consideration37,271 
Goodwill$14,661 
The finalized amounts for assets acquired and liabilities assumed for the 2021 PC&G Acquisitions are as follows:
(in thousands)
Assets:
Right of use asset$7,672 
Equipment1,512 
Inventory107 
Intangibles, net6,707 
Assets acquired15,998 
Liabilities:
Accrued liability
Lease liability7,664 
Off-market lease component99 
Liabilities assumed7,768 
Net assets acquired8,230 
Total consideration32,972 
Goodwill$24,742 
Schedule of Pro Forma Information The following tables also present supplemental unaudited pro-forma information as if the acquisitions had occurred at the beginning of 2021. The pro-forma information does not necessarily reflect the results of operations that would have occurred had the acquisitions occurred at the beginning of 2021. Cost savings are also not reflected in the unaudited pro-forma amounts for the three and nine months ended September 24, 2022 and September 25, 2021.
Three months ended September 24, 2022Three months ended September 24, 2022Three months ended September 25, 2021
Actual from acquisition date
(in thousands)Car Wash AcquisitionsGlass AcquisitionsCar Wash & Glass AcquisitionsDriven Brands Holdings Consolidated
Pro-forma
Driven Brands Holdings Consolidated
Pro-forma
Revenue$7,357 $47,948 $55,305 $532,299 $442,287 
Net income attributable to Driven Brands Holdings Inc.$1,889 $7,703 $9,592 $39,398 $46,080 
Nine months ended September 24, 2022Nine months ended September 24, 2022Nine months ended September 25, 2021
Actual from acquisition date
(in thousands)Car Wash AcquisitionsGlass AcquisitionsCar Wash & Glass AcquisitionsDriven Brands Holdings Consolidated
Pro-forma
Driven Brands Holdings Consolidated
Pro-forma
Revenue$11,629 $97,941 $109,570 $1,599,438 $1,280,691 
Net income attributable to Driven Brands Holdings Inc.$2,883 $13,780 $16,663 $34,793 $88,930 
The following table presents supplemental unaudited pro-forma information as if the 2021 Car Wash Acquisitions had occurred at the beginning of 2020. The pro-forma information does not necessarily reflect the results of operations that would have occurred had the 2021 Car Wash Acquisitions occurred at the beginning of 2020. Cost savings are also not reflected in the unaudited pro-forma amounts for the year ended December 25, 2021 and December 26, 2020, respectively.
Actual from
acquisition
date in 2021
Pro-forma for year ended
(in thousands)December 25, 2021December 26, 2020
Revenue$48,648 $1,613,479 $1,026,012 
Net income attributable to Driven Brands Holdings Inc.$11,693 $47,272 $20,558