Icahn Automotive Group, a division of Icahn Enterprises L.P. , said Friday that it will acquire Precision Auto Care, an automotive service company with more than 250 corporate-owned and franchised Precision Tune Auto Care locations in the U.S. Precision Auto Care has been in business for 40 years and spans across 26 states, concentrated in Georgia and the Carolinas. Icahn Automotive Group consists of Pep Boys and Auto Plus, a parts distributor. Icahn Enterprises shares are down 18.6% for the year so far while the S&P 500 index is up 8.5% for the period.
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