O’Reilly Automotive, Inc. to Acquire Groupe Del Vasto, Headquartered in Montreal, Canada

 

• This acquisition represents O’Reilly’s entrance into the Canadian automotive aftermarket
• Groupe Del Vasto has successfully served the Canadian automotive aftermarket for more than 35 years

SPRINGFIELD, Mo., Dec. 18, 2023 (GLOBE NEWSWIRE) -- 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 Groupe Del Vasto, headquartered in Montreal, Quebec, Canada, under which O’Reilly will acquire all of the outstanding shares of Groupe Del Vasto and its affiliated entities. The stock purchase is expected to be completed in January 2024, subject to customary closing conditions and regulatory approvals. Groupe Del Vasto operates as Vast-Auto Distribution (“Vast-Auto”).

“We are excited to announce our purchase agreement with Vast-Auto, a highly respected, family-owned and operated auto parts supplier in Canada,” said Greg Johnson, O’Reilly CEO. “From their beginning more than 35 years ago, Vast-Auto 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. 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.”

Vast-Auto operates two distribution centers and six satellite warehouses that support a network of 23 company-owned stores, hundreds of strategic independent partners, as well as a widespread service reach that extends to thousands of other independent jobber and professional customers across Eastern Canada.

“Vast-Auto’s seasoned management team, led by Mauro Cifelli, will continue to operate the business,” said Brad Beckham, O’Reilly Co-President. “Partnering with the experienced O’Reilly leadership, we will continue to grow the successful and profitable organization they’ve established. We cannot wait to welcome the more than 500 Vast-Auto team members to the O’Reilly family and look forward to working together as we build upon Vast-Auto’s strong and rich history in the Canadian automotive aftermarket, as our two amazing teams come together as one.”