by Brian Cruickshank
Editor, Counterman magazine
MEMPHIS, TN — Yesterday, AutoZone announced it had completed the purchase of selected assets of the Eastern U.S. auto parts chain, ABC Discount Auto Parts. ABC had been a long-time member of the RPM Group.
The acquisition of ABC furthers AutoZone plans to develop market areas through asset acquisitions where the company currently is under-penetrated. ABC Discount Auto Parts operated 17 stores and one distribution center in Southern New Jersey and Eastern Pennsylvania. The company, previously owned by Lou and Carla Fishman, was headquartered in Cherry Hill, NJ.
Michael Archbold, AutoZone’s chief financial officer said, “This is a great opportunity for us to grow in the Philadelphia and New Jersey markets with the addition of these stores.”
According to an AutoZone spokesman, the company’s purchase includes 12 stores, while the remaining five stores and one DC will be closed. AutoZone plans to have all 12 stores converted to the AutoZone format by the end of the summer.
“I am pleased to transition my family’s business to AutoZone, as well as provide an employment opportunity to my staff,” said Lou Fishman. “Started in 1957, ABC has grown to be a leader in the community, and we are excited to further that leadership with AutoZone.”
In response to the announcement, RPM Group Executive Director Mike Mitchell said, “RPM is a passionate supporter of the independent auto parts chain and is dedicated to help the independent entrepreneur succeed. ABC Discount Auto Parts was a valued, long-standing member and we will miss having ABC as a member. On a personal level Lou and Carla Fishman were active members in the RPM family and we always appreciated Lou’s business insights. We firmly believe that the independent chains serve local markets in ways difficult for the national chains to match.”
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