O’Reilly Buys Four La. Stores

SPRINGFIELD, Mo.--O’Reilly Automotive Inc. has purchased four southeastern Louisianna stores from the Rankin Automotive Group Inc. for about $1.3 million.

Rankin reported that it sold the retail operations to raise additional funds while concentrating on its commercial aftermarket endeavors.

“This is another step in our strategic plan to improve the company’s financial condition by selling operating units that are not a part of our core business of selling to professional installers,” said Randall B. Rankin, chairman and chief executive officer.

The sale is expected to close Nov. 30.

In September, Rankin sold 24 stores and a regional distribution center to Replacement Parts Inc. for $130 million.

Those stores are in Mississippi and Louisiana; the distribution center is in Monroe, La.

“This is a very important step in refocusing the company on its two-step distribution business,” said Rankin last month. “We expect our operating teams in Houston, Austin, San Antonio, and Shreveport/Bossier to improve upon their leading positions in those markets,” he added.

Rankin sells automotive parts, products and accessories to commercial and retail customers in Texas and northwest Louisiana through its Houston distribution center and 41 stores.

In April, O’Reilly bought Arkansas-based KarPro Auto Parts for about $14 million--obtaining a 66,000-square-foot distribution center in Little Rock, Ark., and 14 KarPro stores throughout Arkansas.

O’Reilly plans to open 100 new stores this year.

O’Reilly 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 installer markets. Founded in 1957 by the O’Reilly family, the company operates some 600 stores in Texas, Missouri, Oklahoma, Kansas, Iowa, Arkansas, Louisiana, Nebraska and Illinois.

For more information, contact www.oreillyauto.com or www.rankinautomotive.com.