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Pep Boys - The history
In August 1921, Pep Boys originated from Emanuel Rosenfeld, Maurice Strauss, Graham Jackson, and Moe Radavitz, four friends who combined resource worth $200 to open a single auto parts store. They dubbed it Pep Auto Supply Company after noticing a shipment of Pep Valve grinding compound on the shelves.
The Great Depression struck in 1929, and luckily, Manny and Moe had not incurred business debts other than right mortgages on store properties. Thanks to this, Pep Boys was shielded from the severe downturn that destroyed so many other businesses. Although unemployment rates were approaching 40 percent in some areas, Manny and Moe did not lay off workers or cut salaries during the Depression. Instead, they added employees as part of an expansion they had waited ten years to launch. In 1933, Manny's brother, Murray Rosenfeld, started the first West Coast Pep Boys store as part of a separate business named The Pep Boys- Manny, Moe & Jack of California and ran the Western operations. Within three years, Pep Boys of California added 11 stores.
In January 2017, Pep Boys took over Just Brakes, a 134-store automotive repair, and maintenance chain. Just Brakes is now a full subsidiary of Pep Boys. Dan A. Ninivaggi, Co-Chief Executive Officer and Co-Chairman of the Board of Directors of Federal-Mogul LLC and Chief Executive Officer of Federal-Mogul Motorparts, was made the company’s new CEO In March 2017.
Pep Boys is now owned by Icahn Automotive Group LLC, which was formed by its parent, Icahn Enterprises L.P.
