O'Reilly Auto expanding to Canada via acquisition

Springfield-based O'Reilly Automotive Inc. (Nasdaq: ORLY) is expanding to its third country through a newly announced acquisition.

The auto parts retailer entered a definitive stock purchase agreement with the shareholders of Groupe Del Vasto, which is based in Montreal, Quebec, Canada. The financial terms of the deal were not disclosed in a news release.

O'Reilly Automotive expects to close on the acquisition of Groupe Del Vasto, dba Vast-Auto Distribution, in January, pending closing conditions and regulatory approvals.

“Vast-Auto’s seasoned management team, led by Mauro Cifelli, will continue to operate the business,” said Brad Beckham, O’Reilly co-president, in the release. “Partnering with the experienced O’Reilly leadership, we will continue to grow the successful and profitable organization they’ve established.

"We cannot wait to welcome the more than 500 Vast-Auto team members to the O’Reilly family and look forward to working together as we build upon Vast-Auto’s strong and rich history in the Canadian automotive aftermarket, as our two amazing teams come together as one.”

Vast-Auto Distribution has two distribution centers and six satellite warehouses that support 23 stores. O'Reilly Automotive had 6,111 stores in the United States, Mexico and Puerto Rico as of Sept. 30.

Earlier this month, the Springfield-based company unveiled the rebranding of its Mexican stores to O’Reilly Autopartes from ORMA, according to past reporting.

ORLY shares were trading at $966.19 as of 9:43 a.m., compared with a 52-week range of $767.27 to $1,005.96 per share. The 52-week high was hit Nov. 14.