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CSK Auto, Inc. to Acquire Trak Auto's Southern California Stores

7 October 1997

CSK Auto, Inc. to Acquire Trak Auto's Southern California Stores

    PHOENIX, Oct. 7 -- CSK Auto, Inc., the largest retailer of
automotive parts and accessories in the western United States and one of the
largest such retailers in the country, today announced that it has entered
into an agreement with Trak Auto Corporation to acquire 80 Trak
Auto stores in Southern California.  CSK has agreed to pay a total purchase
price of approximately $38 million in cash at closing.  CSK's existing equity
investors anticipate providing the Company with $20 million of additional
equity capital, with the balance to be funded through senior bank debt.
    CSK Auto, which operates stores under the Kragen name in California, said
the acquisition of Trak Auto's 80 stores would increase the Company's presence
in the Los Angeles marketplace, where it currently operates few stores.  The
newly acquired stores will be converted to the Kragen format and will operate
under the Kragen name.  Trak Auto will retain its leased distribution center
in Ontario, California, although inventory from that location will be
transferred to CSK Auto.
    Commented CSK Auto Chairman and Chief Executive Officer, Maynard Jenkins,
"The purchase of these 80 stores will dramatically enhance our ability to
serve do-it-yourself and commercial customers in the Los Angeles market, an
area where we have long intended to establish a significant presence.
    "This transaction is consistent with our strategic plan to build CSK
Auto's franchise through acquisitions and significant new store openings.
Over the past several years, we have made significant investments in our
corporate and operating infrastructure, especially in the development of an
outstanding management team, in building a state-of-the-art distribution
capability and investing in information technology to provide CSK Auto with
important competitive advantages," concluded Mr. Jenkins.
    CSK Auto operates stores under the trade names of Checker, Schuck's and
Kragen in 12 western states.  Following the completion of the transaction, the
Company will employ approximately 10,000 people in 685 stores, two major
distribution centers and several regional distribution centers.  Its annual
sales will exceed $900 million.
    Following the completion of the transaction, Trak Auto Corporation will
continue to operate 196 stores in the metropolitan areas of Washington, D.C.,
Richmond, Virginia, Chicago, Illinois, Pittsburgh, Pennsylvania and Milwaukee,
Wisconsin.

SOURCE  CSK Auto, Inc.