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Driven Brands Holdings Inc. faces third shareholder class action lawsuit

Like two others, this lawsuit accuses the company’s current and former executives of concealing problems with the integration of purchased auto glass companies and the performance of their car wash segment.

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🌅Good morning! In this issue of the Car Wash Daily News email newsletter we take a look at the most recent verified stockholder derivative lawsuit filed against Driven Brands Holdings Inc. - the third since December 2023.

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Director of Journalism/Editor in Chief
CW Daily News

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🔦TODAY’S SPOTLIGHT🔦

Driven Brands Holdings Inc. faces third shareholder class action lawsuit

Driven Brands Holdings Inc., the largest automotive services company in North America, is facing another shareholder class action lawsuit – the third filed since December 2023.

The most recent verified stockholder derivative action was filed on April 30 in the U.S. District Court for the Western District of North Carolina in Charlotte, N.C., by Jonathan Gaiman, a shareholder in Driven.

All three lawsuits are similar in nature, accusing the company’s executives of concealing problems with the integration of purchased auto glass companies and the performance of their car wash segment (Take 5 Car Wash) for nearly two years before a record stock drop.

Read more here.

➥ SUMMARY

All three shareholder lawsuits are similar in nature, accusing Driven's current and former executives of concealing problems with the integration of purchased auto glass companies and the performance of their car wash segment.

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✂️SHORTCUTS✂️

   Editor’s Pick 👇

  • Koch-Chemie brings premium car wash chemicals to U.S.: Koch-Chemie, a global leader in car detailing products based in Germany, has launched its car wash chemical line in the United States. Trusted by premium car washes and automotive professionals across Germany and Europe for over 50 years, Koch-Chemie offers a comprehensive range of products tailored for full-service, express, and self-serve car wash operators. From pre-cleaners and shampoos to drying agents and waxes, every Koch-Chemie product is engineered to deliver brilliant results while optimizing operational efficiency. Read more here.

   Express Hits  🎯 

  • Quick Quack Car Wash recently opened a new location at 1590 Vineyard Rd. in Roseville, California. It’s the operator’s third location in the city and 106th in the state of California. The site is offering a free top wash package on every vehicle for 12 days. It also features improved drying systems and water recycling, vacuum stall occupancy sensors and “Duck Dunk” towel return bins shaped like basketball hoops.

  • A former ZIPS Car wash site – and most recently Cascades Car Wash – in Amarillo, Texas, will be available for sale on an online auction next month. The auction will begin at 9 a.m. on June 2 and end at 11:03 a.m. on June 4. The 4,480+ square-foot car wash was built in 2005 and sits on 1+ acres of land. The starting bid is $1.25 million. Tours of the property will be available for prospective buyers on May 16 and 30 (11 a.m. - 2 p.m. To register for the auction, click here.

  • WyoPreps and Rocky Mountain Car Wash are teaming up for a dirty summertime giveaway. Participants can win up to six months of free car washes if your vehicle is voted “dirtiest” of them all. The runner up can receive a three-month car wash membership, and third place will get one month of car washes. Take a picture of your dirtiest off-roader, soccer mom van, sports team wheels, or any other vehicle and submit it by May 16. Voting ends May 30.

    👉 More updates here.

   Making Waves Around the World  🌊 

  • New car wash facility planned for Athy, Kildare: The Kildare (Ireland) County Council recently granted planning permission for the construction of a car wash facility in Athy. The €100k facility, applied for by Washwell Forecourt Services Limited, is to be located at Mount Offaly, Carlow Road, Athy, Co Kildare. According to Construction Information Services (CIS), a decision to grant planning permission for the project was issued April 29. The project includes the construction of a car wash facility, comprising of one automatic wash bay, two self-service bays, a covered canopy and service plant room. The facility will also have three vacuum/valeting bays, public lighting and other ancillary site development works.

    👉 More updates here.

   What’s Coming Up  📅

  • 12th Women in Carwash Conference: The biannual conference’s second event of the year is set for Jun 8-10, 2025, at The Charter Hotel in Seattle, Washington. The three-day event includes presentations, hands-on workshops, discussion groups, open forums, networking opportunities, and entertaining experiences. More info here.

  • Southwest Fuel & Convenience Expo 2025: The premier event for fuel, food and convenience retailers in the Southwest United States is set for June 9-11, 2025, in Fort Worth, Texas. More info here.

  • Sunshine Expo 2025: The Florida Petroleum Marketers Association’s annual event is July 28-30, 2025, at the Ocean Center in Daytona Beach, Florida. More info here.  

  • Leadership Worth Following Growth Summit: The LWF’s Growth Summit, designed to bring together car wash professionals committed to growth, impact and authentic leadership, is Sept. 22-23, 2025, in Denver, Colorado. More info here.

  • Car Wash Show Europe 2025: The leading car wash trade fair in Europe takes place Sept. 24-25, 2025, at EXPO Greater Amsterdam in the Netherlands. More info here.

  • Northeast Regional Carwash Convention 2025: The NRCC, scheduled for Oct. 6-8, 2025, in Atlantic City, New Jersey, includes educational seminars, keynote speakers, and a large trade show. More info here.

  • NACS Show 2025: The National Association of Convenience Stores trade show, scheduled for Oct. 14-17, 2025, Chicago, Illinois, brings together convenience and fuel retailing industry professionals for learning, buying and selling and networking. More info here.

  • SEMO Show 2025: The Specialty Equipment Market Association’s annual automotive industry tradeshow is Nov. 4-7, 2025, at the Las Vegas (Nevada) Convention Center. Read more here.

  • ICA 2026 The Car Wash Show: The International Carwash Association’s premier event is set for May 11-13, 2026, in Nashville, Tennessee. More info here.

❓DID YOU KNOW❓

According to a recent report from Verified Market Reports, the global self-service car wash market is expected to reach $2.8 by 2033 with an annual growth rate of 7.5 percent from 2026 to 2033.

🤝 To advertise with CW Daily News, email [email protected] 

Disclaimer: The authors of cwdailynews.com, LLC are not financial or tax professionals. This email is for educational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with qualified professionals before making any decisions. Our content, which may include affiliate links, reflects personal opinions and should not be used as the sole basis for decision-making. We are not responsible for any losses resulting from the use of this information.