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Hahn Automotive Acquires Carparts Distribution Center
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By APF
Advance Auto Parts today announced with their Q3 release a new strategic plan that includes a reduction in U.S. footprint:
Store operations Reduction in U.S. asset footprint - closing 523 Advance corporate stores, exiting 204 independent locations, and closing four distribution centers. Standardization of store operating model and improving labor productivity. Acceleration in pace of new store openings. Merchandising excellence Strategic sourcing to improve first costs and bring link hidden, please login to view to market faster. Assortment management to enhance availability of link hidden, please login to view. Pricing and promotions management to improve gross margin. Supply chain Consolidation of distribution centers to operate 13 large facilities by 2026. Opening of 60 market hub locations by mid-2027. Optimization of transportation routes and freight to lower costs and improve productivity.
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By Counterman
NexaMotion Group (NMG) announced the acquisition of
link hidden, please login to view, NexaMotion’s third acquisition of the year. The company has a total of three wholesale distributor locations: two in San Francisco, CA, and one in Honolulu, HI. City Auto Supply was represented by Schwartz Advisors, and the terms were not disclosed. City Auto Supply is a U.S. veteran-owned corporation founded in the San Francisco Bay Area in 1986. The company carries over 100,000 individual parts and is a leading distributor of automotive parts and supplies to the auto repair industry, the company said.
“An organization like
link hidden, please login to view is a great partner for City Auto Supply customers and team members. Our business is strategically aligned with NexaMotion Group and its leaders, and most importantly, we share the same values,” City Auto Supply Owner Larry Chew said. “NexaMotion Group and its subsidiaries are known for providing top-quality parts and exceptional service in the aftermarket industry.” “This marks our fifth acquisition in the general repair space over the past 18 months, and we’re just getting started,” Neil Sethi, president and CEO of
link hidden, please login to view, said. “Our mission has always been to simplify complex vehicle repair, and with each acquisition, we strengthen our ability to serve customers more effectively. We’re eager for what the future holds as we continue to expand and innovate.” The post
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By Counterman
link hidden, please login to view announced the completion of the previously announced acquisition of AX V Nissens III APS ( link hidden, please login to view), European manufacturer and distributor of aftermarket engine cooling and air conditioning products with a growing array of vehicle control technologies. Under the terms of the agreement, SMP has acquired all the issued and outstanding shares of Nissens for approximately $390 million (€360 million), net of cash and assumed debt and subject to post-closing adjustments, from Nordic private equity firm Axcel and the Nissen family, according to a news release announcing the acquisition.
“We are very pleased to announce the closing of the Nissens acquisition. With this combination, we create an aftermarket leader in North America and Europe across our key product categories. The strength of Nissens’ leadership team and overall cultural fit will allow for immediate collaboration on opportunities for growth through cross-selling as well as bi-directional synergies with significant savings potential. We welcome Nissens and its employees to the SMP family,” said Eric Sills,
link hidden, please login to view‘ chairman and CEO. The post
link hidden, please login to view appeared first on link hidden, please login to view.
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By OReilly Auto Parts
SPRINGFIELD, Mo., Oct. 23, 2024 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenue and earnings for its third quarter ended September 30, 2024.
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