Tuesday, December 04, 2012
Auto parts chain retailer AutoZone Inc. has acquired the assets and some debt of online auto parts retailer AutoAnything. The two companies had combined 2011 web sales of $274.9 million. Terms of the transaction, which was announced today, were not disclosed.
Memphis, TN-based AutoZone says it views the purchase of San Diego-based AutoAnything an opportunity to extend its web presence. “The company's culture and leadership is an outstanding fit with our company as we look forward to growing our e-commerce initiatives for many years to come,” says Bill Rhodes, chairman, president and CEO of AutoZone, No. 121 in the 2012 Internet Retailer Top 500.
AutoAnything, No. 157 in the Top 500, had web sales of $111.9 million in 2011, up by 13.8% from $98.3 million in the prior year. AutoZone reported e-commerce sales of $163 million in 2011, a 9.5% increase from $149 million in 2010.
AutoAnything is privately held and was founded in 1979 by Selwyn Klein; sons David and Trevor launched its online business in 1999.
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