Springfield-based O’Reilly Automotive, Inc. is planning an acquisition in Canada. The business announced that it has entered into a definitive stock purchase agreement with the shareholders of Groupe Del Vasto, which is headquartered in Montreal, Quebec, Canada. O’Reilly will acquire all of the outstanding shares of Groupe Del Vasto and its affiliated entities, the company said in a news release. Groupe Del Vasto operates as Vast-Auto Distribution.
The stock purchase is expected to be completed in January.
Vast-Auto operates two distribution centers and six satellite warehouses that support a network of 23 company-owned stores, hundreds of strategic independent partners and a widespread service reach, according to O’Reilly.
The Canadian company’s management team, led by Mauro Cifelli, will continue to operate the business.
“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,” said O’Reilly CEO Greg Johnson in the press release.
O’Reilly Automotive, Inc. was founded in 1957 by the O’Reilly family and is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States. As of September 30, 2023, the Company operated 6,111 stores across 48 U.S. states, Puerto Rico and Mexico.
Vast-Auto Distribution was founded in 1986 by John Del Vasto and is a leader in the distribution and marketing of automotive parts for auto parts stores in Eastern Canada. As of December 18, 2023, Vast-Auto operated 23 company-owned stores across five Canadian provinces.