Midas Acquires SpeeDee Assets

Itasca, Ill. Midas, Inc. acquired the assets of G.C. & K.B. Investments, Inc., and its affiliated entities that franchise or sub-franchise 181 SpeeDee quick-lube and automotive maintenance shops in the United States and Mexico.

New Orleans-based SpeeDee includes a network of 116 shops in 13 domestic states as well as 65 shops in Mexico that are licensed to a master franchisee. In 2007, SpeeDee’s U.S. retail sales totaled $78 million. There are currently 1,520 Midas shops located throughout the United States.