AutoZone reaches definitive agreement to acquire Interamerican Motor Corp.
AutoZone, Inc. announced it has entered into a definitive agreement to purchase Interamerican Motor Corp. (IMC), which was founded in 1962, currently operates 17 locations and is the second-largest distributor of OE quality import replacement parts in the United States.
The company says it has been committed to offering an extensive parts line for all European and Asian cars, and original equipment brands are at the core of the IMC parts program.
"We are excited about the IMC team joining AutoZone. The company's leadership in import car parts coverage will be an exceptional fit with AutoZone's current product assortment," said Bill Rhodes, AutoZone CEO, chairman and president.
"As we expand the IMC brand across the United States, we believe the IMC business model will mutually benefit both our retail and commercial customers. The combined offering is expected to deliver value for our customers and stockholders."
"AutoZone and IMC are a great fit," said John Mosunic, IMC's CEO. "This is a logical next step for both companies. AutoZone's national footprint, exceptional culture built on customer service, and operational expertise combined with IMC's leadership in selling to the import segment creates a powerful future growth platform."
For more information visit www.autozone.com.