Take 5 Oil Change has opened its 500th location. Pete Frey, former president of Take 5, owns shop No. 500 in Covington, LA. Frey spent more than 20 years with the Take 5 organization, which originated in the New Orleans area, and helped guide its growth in the early years.
Take 5 has been growing rapidly since its acquisition by Driven Brands in 2016. At the time, Take 5 had 65 shops. Since the purchase, Driven Brands has added 435 locations through a combination of acquisitions, franchising and company-owned shops.
More than 200 new Take 5 locations have already opened this year.
“We are very pleased with the growth that we have seen so far in 2019 and see tremendous potential for continued expansion in new markets across the country,” said Jon Gaiman, chief development officer for Driven Brands. “We are also excited that Pete Frey, someone long associated with Take 5, chose to become the owner of our 500th store.”
In related news, TWO Capital Partners — which has invested more than $600 million in apartment, office, retail and shopping center development — is entering the automotive service industry. TWO Capital Partners plans to open 24 or more Take 5 shops across Georgia and South Carolina.
Additionally, South Carolina entrepreneur Scott Montgomery has signed on to open 10 Take 5 locations in North Carolina and Georgia.