Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns run through O REILLY AUTOMOTIVE's acquisitions — what it looks for, how it pays, and how it folds in what it buys.
9 acquisitions — each with the deal value, financing structure, target revenue, and executive commentary where disclosed.
CSK Auto Corporation (NYSE: CAO) was one of the largest specialty retailers of auto parts and accessories in the Western United States, operating under the Checker, Schuck's, Kragen and Murray's brands. Under the merger agreement, CSK shareholders received $11.00 of O'Reilly common stock (subject to a collar) plus $1.00 in cash per share. Each CSK share was converted into 0.4285 of an O'Reilly share plus $1.00 in cash. The combination created the third-largest national auto parts retailer with approximately 3,200 stores and pro forma 2007 revenues of approximately $4.4 billion. approximately $1.0 billion (including ~$500 million of assumed debt).
Today is an exciting day for both O'Reilly and CSK shareholders. As a combined company, we will be even stronger and more competitive, with the ability to better meet the continuing evolution of the automotive aftermarket industry.Greg Henslee — Chief Executive Officer, O'Reilly Automotive
The benefits of this transaction are very compelling. After careful consideration of a number of viable alternatives, our Board has determined that partnering with O'Reilly is clearly the best course of action for our shareholders.Larry Mondry — President and Chief Executive Officer, CSK Auto
Midwest Auto Parts Distributors, headquartered in St. Paul, Minnesota, was a specialty retailer that supplied automotive aftermarket parts across the upper Midwest, operating a chain of stores backed by two distribution centers in Minneapolis, Minnesota and Billings, Montana. Its footprint spanned six states not previously served by O'Reilly - Minnesota, Montana, North Dakota, South Dakota, Wisconsin and Wyoming. O'Reilly acquired all outstanding stock of parent W.E. Lahr Company and its Midwest subsidiary, adding roughly 72 stores and extending the company's reach into the northern-central U.S. $61 million in cash.
O'Reilly entered into a definitive agreement to purchase the auto-parts-related assets of VIP Parts, Tires & Service, New England's largest privately held automotive parts and accessories chain. Based in Lewiston, Maine, VIP operated 56 stores across Maine, New Hampshire and Massachusetts plus a Maine distribution center. After completion, VIP retained the tire and service components of the business while O'Reilly owned and operated the automotive parts sales and distribution operations. VIP traces to a 1958 founding and was acquired by Quirk Tire in 2001.
Concurrent with its third-quarter 2016 earnings release, O'Reilly announced a definitive agreement to purchase substantially all of the assets of Bond Auto Parts, a privately held automotive parts supplier operating 48 stores in Vermont, New Hampshire, Massachusetts and New York. The purchase was expected to be completed before the end of 2016.
Over the past 60 years, the Bond family has built a very successful business based on a culture of providing excellent customer service, which makes their company a perfect fit with O'Reilly. I would like to welcome the Bond team members to O'Reilly.O'Reilly Automotive Q3 2016 earnings press release
Alongside an additional $1 billion share-repurchase authorization, O'Reilly announced a definitive agreement to purchase substantially all of the auto-parts-related assets of Bennett Auto Supply, Inc., a privately held automotive parts supplier headquartered in Pompano Beach, Florida that operated 33 stores in southern Florida. The asset purchase was expected to be completed by the end of 2018.
We are very excited to announce we have entered into a definitive agreement to purchase substantially all of the assets of Bennett Auto Supply, a highly respected, privately held automotive parts supplier operating 33 stores in southern Florida. Over the past 61 years, the Bennett family has built a very successful business based on a culture of providing excellent customer service and is a premier parts supplier in their markets.Greg Johnson — CEO and Co-President, O'Reilly Automotive
O'Reilly entered into a definitive stock purchase agreement with the shareholders of Mayoreo de Autopartes y Aceites, S.A. de C.V. ('Mayasa'), headquartered in Guadalajara, Jalisco, Mexico, to acquire all of the outstanding shares of Mayasa and affiliated entities. Mayasa was founded in 1954 and operated five distribution centers supporting 20 company-owned stores and serving over 2,000 independent jobber locations throughout Mexico, with more than 1,100 team members. The acquisition represented O'Reilly's inaugural expansion outside the United States and was expected to close in the fourth quarter of 2019, subject to regulatory approvals.
We are excited to announce we have entered into a definitive agreement to purchase Mayasa, a highly respected, family operated auto parts supplier in Mexico, which operates five distribution centers that support 20 company owned stores and over 2,000 independent jobber locations throughout Mexico.Greg Johnson — CEO and Co-President, O'Reilly Automotive
O'Reilly entered into a definitive stock purchase agreement with the shareholders of Groupe Del Vasto, headquartered in Montreal, Quebec, Canada, to acquire all of its outstanding shares and affiliated entities. Groupe Del Vasto operates as Vast-Auto Distribution and had served the Canadian automotive aftermarket for more than 35 years, running two distribution centers and six satellite warehouses that support a network of 23 company-owned stores plus hundreds of independent partners across Eastern Canada. The acquisition marked O'Reilly's entrance into the Canadian market and was expected to close in January 2024.
We are excited to announce our purchase agreement with Vast-Auto, a highly respected, family-owned and operated auto parts supplier in Canada. This strategic acquisition represents another important milestone in O'Reilly's rich history, as we extend our footprint into Canada and continue our long track record of profitable growth throughout North America.Greg Johnson — CEO, O'Reilly Automotive
This is a significant milestone and fantastic opportunity for Vast-Auto and will be a catalyst to accelerate our expansion throughout Canada. Our company has always been committed to a strong culture, hard work, and exceptional customer service and these values align perfectly with O'Reilly's culture.Mauro Cifelli — President and CEO, Vast-Auto
O'Reilly completed a merger with Hi-Lo Automotive, Inc. and its subsidiaries on January 30, 1998 (effective January 31, 1998), acquiring 100% of the outstanding capital stock. Hi-Lo was a Houston, Texas headquartered specialty retailer and supplier of automotive products operating 189 stores in Texas (165), Louisiana (17) and California (7), plus a 375,000 square foot distribution center in Houston. Hi-Lo had sales of approximately $238.3 million for the year ended December 31, 1997.
Effective October 1, 2001, O'Reilly purchased all of the outstanding stock of Mid-State Automotive Distributors, Inc., a specialty retailer that supplied automotive aftermarket parts throughout the southeastern United States. The acquisition added 82 stores and included distribution centers in Nashville, Tennessee and Knoxville, Tennessee.