SPRINGFIELD, Mo., Aug. 20, 2019 (GLOBE NEWSWIRE) — O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a main retailer within the automotive aftermarket industry, introduced that it has entered right into a definitive inventory purchase settlement with the shareholders of Mayoreo de Autopartes y Aceites, S.A. De C.V. (“Mayasa”), headquartered in Guadalajara, Jalisco, Mexico, beneath which O’Reilly will gather all of the extraordinary shares of Mayasa and affiliated entities. The inventory purchase is predicted to be finished in the fourth area of this 12 months, with difficulty to commonplace last situations and regulatory approvals.
O’Reilly’s CEO and Co-President, Greg Johnson, commented, “We are excited to announce we have entered into a definitive agreement to purchase Mayasa, a tremendously reputable, family-operated automobile components provider in Mexico, which operates 5 distribution centers that help 20 enterprise-owned stores and over 2,000 impartial jobber locations for the duration of Mexico. From their starting over 65 years in the past, Mayasa has constructed a completely a hit commercial enterprise by focusing on the identical essential way of life values of difficult work and terrific customer service, which have also been key to O’Reilly’s fulfillment. Mayasa’s pro-management team will keep to function the commercial enterprise and, partnering with O’Reilly’s experienced management, will keep growing the successful and profitable company they have established. We are delighted to welcome the over 1 one hundred Mayasa crew participants to the O’Reilly circle of relatives, and we stay up for running together as we construct upon Mayasa’s sturdy and wealthy records inside the Mexican car aftermarket.”
The Company claims the safety of the safe-harbor for forward-looking statements in that means of the Private Securities Litigation Reform Act of 1995. You can perceive these statements with the aid of forward-looking words along with “estimate,” “may,” “should,” “will,” “trust,” “anticipate,” “could,” “consider,” “must,” “assume,” “undertaking,” “plan,” “intend” or comparable words. In addition, statements contained within this press launch that aren’t ancient statistics are ahead-searching statements, such as statements discussing, amongst other matters, expected boom, save improvement, integration and growth strategy, commercial enterprise techniques, destiny revenues, future performance, and plans to acquire Mayasa. These ahead-looking statements are primarily based on estimates, projections, beliefs, and assumptions and do not ensure destiny occasions and effects. Such statements are subject to dangers, uncertainties, and assumptions, along with, however now not constrained to, the economic system is preferred, inflation, tariffs, product demand, the marketplace for car components, competition, weather, risks related to the overall performance of received corporations, our potential to rent and maintain qualified personnel, consumer debt degrees, our accelerated debt degrees, credit ratings on public debt, governmental guidelines, information protection, and cyber-attacks, terrorist sports, battle, the threat of battle and the capacity to successfully whole the acquisition of Mayasa on a well-timed foundation, consisting of receipt of required regulatory approvals and pride of different conditions.
Actual consequences can also materially differ from expected effects defined or implied in these ahead-searching statements. Please confer with the “Risk Factors” segment of the yearly document on Form 10-K for the 12 months ended December 31, 2018, and next Securities and Exchange Commission filings for extra factors that could materially affect the Company’s monetary overall performance. In addition, forward-looking statements speak handiest as of the date they were made. The Company undertakes no responsibility to publicly update any ahead-looking statements, whether or not as a result of new data, future events, or otherwise, except as required via applicable regulation.