O'Reilly Automotive, Inc., said that it has entered into
agreements to purchase the assets of Dick Smith Enterprises,
headquartered in Ft. Worth, Texas and Davie Automotive, Inc.,
headquartered in Mocksville, North Carolina. Under the terms of these
agreements, O'Reilly said it has purchased all assets. No debt or
liabilities were assumed.
The Dick Smith transaction closed on December 12, 2002, and the
Davie transaction closed on December 19, 2002. Dick Smith was a strong
wholesaler for 30 years operating 10 stores out of the Dallas/Ft. Worth
area. Davie has been in business for over 30 years and operates 17
stores and 1 distribution center in the Raleigh/Mocksville area.
The acquisition of Davie will open up a new market area for
O'Reilly. "We are very excited about these acquisitions and
the opportunity they provide to gain market share. Both Dick Smith and
Davie have a strong tradition and reputation on which O'Reilly can
build both retail and professional installer business," stated Ted
Wise, Co-President.
O'Reilly Automotive 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.
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