Parts Authority has entered into a deal to acquire Interamerican Motor Corp. (IMC) from AutoZone Inc. IMC, a distributor of import replacement parts, operates 26 locations across nine states. The transaction is expected to close in coming weeks.
“This acquisition is an expansion of our product offerings, customer touch points and geographies,” says Randy Buller, Parts Authority president and CEO. “The company’s leadership in European replacement parts is a logical fit with Parts Authority’s current catalog. We believe the expanded inventory depth of the combined organization will significantly benefit both IMC’s existing customer base as well as Parts Authority’s customers.”
Buller says that IMC’s footprint expands Parts Authority into key geographies of Florida, Texas, Northern California and the Pacific Northwest. He adds that IMC’s management team and employees will add “tremendous value” to the organization.
“Parts Authority’s culture of customer service, operational excellence and integrity, combined with IMC’s leadership in selling to the import segment, creates an exciting growth platform,” says Kelly Mundt, IMC vice president of corporate strategy.
Bill Rhodes, AutoZone chairman, president and CEO, says, “While we believe IMC is a valuable asset and a leader in European- and Asian-branded replacement parts, the sale of IMC will allow AutoZone to focus on our core business. We believe IMC will be better suited to a different ownership structure where they will get the time, attention and investments necessary to optimize their business model.”
