O’Reilly Automotive, Inc. to Acquire Mayasa Auto Parts Headquartered in Guadalajara, Mexico
20 Agosto 2019 - 5:30PM
O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq:
ORLY), a leading retailer in the automotive aftermarket industry,
announced that it has 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, under which O’Reilly will acquire all of the outstanding
shares of Mayasa and affiliated entities. The stock purchase
is expected to be completed in the fourth quarter of this year,
subject to customary closing conditions and regulatory approvals.
O’Reilly’s CEO and Co-President, Greg Johnson,
commented, “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. From
their beginning over 65 years ago, Mayasa has built a very
successful business by focusing on the same fundamental culture
values of hard work and excellent customer service that have also
been key to O’Reilly’s success. Mayasa’s seasoned management
team will continue to operate the business and, partnering with
O’Reilly’s experienced leadership, will continue to grow the
successful and profitable organization they have established.
We are very happy to welcome the over 1,100 Mayasa team members to
the O’Reilly family, and we look forward to working together as we
build upon Mayasa’s strong and rich history in the Mexican
automotive aftermarket.”
About O’ReillyO’Reilly was founded
in 1957 by the O’Reilly family and is one of the largest specialty
retailers of automotive aftermarket parts, tools, supplies,
equipment and accessories in the United States, serving both the
do-it-yourself and professional service provider markets. As
of June 30, 2019, O’Reilly operated 5,344 stores in 47 U.S.
states.
About MayasaMayasa was founded in
1954 and is a large specialty retailer of automotive aftermarket
parts in Mexico, operating five distribution centers, 20 Orma
Autopartes stores and serving over 2,000 independent jobber
locations in 28 Mexican states.
Forward-Looking StatementsThe
Company claims the protection of the safe-harbor for
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. You can identify
these statements by forward-looking words such as “estimate,”
“may,” “could,” “will,” “believe,” “expect,” “would,” “consider,”
“should,” “anticipate,” “project,” “plan,” “intend” or similar
words. In addition, statements contained within this press
release that are not historical facts are forward-looking
statements, such as statements discussing, among other things,
expected growth, store development, integration and expansion
strategy, business strategies, future revenues, future performance
and plans to acquire Mayasa. These forward-looking statements
are based on estimates, projections, beliefs and assumptions and
are not guarantees of future events and results. Such
statements are subject to risks, uncertainties and assumptions,
including, but not limited to, the economy in general, inflation,
tariffs, product demand, the market for auto parts, competition,
weather, risks associated with the performance of acquired
businesses, our ability to hire and retain qualified employees,
consumer debt levels, our increased debt levels, credit ratings on
public debt, governmental regulations, information security and
cyber-attacks, terrorist activities, war, the threat of war and the
ability to successfully complete the acquisition of Mayasa on a
timely basis, including receipt of required regulatory approvals
and satisfaction of other conditions. Actual results may
materially differ from anticipated results described or implied in
these forward-looking statements. Please refer to the “Risk
Factors” section of the annual report on Form 10-K for the year
ended December 31, 2018, and subsequent Securities and
Exchange Commission filings for additional factors that could
materially affect the Company’s financial performance.
Forward-looking statements speak only as of the date they were made
and the Company undertakes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable
law.
For further information contact: |
Investor & Media Contact |
|
Mark Merz (417) 829-5878 |
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