NEW YORK Jan 21 Pep Boys-Manny Moe & Jack
PBY.N, the Philadelphia-based auto parts retailer, has hired
Bank of America (BAC.N) to explore a sale of the company,
Bloomberg reported on Friday.
Pep Boys is not likely to run a formal sale process, but is
trying to drum up interest among private equity buyers such as
Leonard Green & Partners, Bain Capital and TPG Capital
[TPG.UL], according to the report.
Separately, a person familiar with the matter told Reuters
on Friday that Pep Boys had hired Goldman Sachs (GS.N) to sell
itself in the past, but the process did not result in a sale.
The company started exploring a potential sale again late
last year, but several private equity firms have shown limited
interest in buying the company, that source said.
(Reporting by Soyoung Kim; Editing by Lisa Von Ahn)