O REILLY AUTOMOTIVE INC acquired Groupe Del Vasto (Vast-Auto Distribution), a transaction completed in January 2024, structured as stock purchase.
Groupe Del Vasto (Vast-Auto Distribution) operates in Automotive aftermarket parts (Canada), is based in Montreal, Quebec, Canada (Eastern Canada). O'Reilly entered into a definitive stock purchase agreement with the shareholders of Groupe Del Vasto, headquartered in Montreal, Quebec, Canada, to acquire all of its outstanding shares and affiliated entities. Groupe Del Vasto operates as Vast-Auto Distribution and had served the Canadian automotive aftermarket for more than 35 years, running two distribution centers and six satellite warehouses that support a network of 23 company-owned stores plus hundreds of independent partners across Eastern Canada. The acquisition marked O'Reilly's entrance into the Canadian market and was expected to close in January 2024.
From their beginning more than 35 years ago, Vast-Auto built a successful business focused on the same fundamental culture values of hard work and excellent customer service key to O'Reilly's success; the strategic acquisition extended O'Reilly's footprint into Canada and continued its track record of profitable growth across North America.
A 35-year-old, family-owned distributor with a built-out distribution and store network that opened O'Reilly's first Canadian market. Vast-Auto's seasoned management team, led by Mauro Cifelli, to continue operating the business; more than 500 Vast-Auto team members joined O'Reilly.
We are excited to announce our purchase agreement with Vast-Auto, a highly respected, family-owned and operated auto parts supplier in Canada. 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.Greg Johnson, CEO, O'Reilly Automotive
This is a significant milestone and fantastic opportunity for Vast-Auto and will be a catalyst to accelerate our expansion throughout Canada. Our company has always been committed to a strong culture, hard work, and exceptional customer service and these values align perfectly with O'Reilly's culture.Mauro Cifelli, President and CEO, Vast-Auto
Advisory firms were not disclosed for this transaction.