The discussions are reportedly in the early stages, with the percentage of ownership not yet agreed upon.
Pep Boys has agreed to be taken over by the Gores Group for $15 per share, or about $791 million. Gores Group is run by Alec Gores.
Investor Tom Gores is now officially the owner of the Detroit Pistons. The sale of Palace Sports and Entertainment and the Pistons to Gores and his investment firm, Platinum Equity, was formally completed Wednesday afternoon