NEW YORK and MEMPHIS, TN — Marubeni America Corp., along with Marubeni Corporation of Japan and Marubeni Automotive, have acquired the Olive Branch, MS-based Prime Automotive Warehouse, for an undisclosed amount.
Established in 1982, Prime Automotive is a leading distributor of aftermarket auto parts, chemicals and tools to its large reseller customer base. Prime mainly markets its products through a monthly catalog.
According to Marubeni, this transaction will allow Prime to combine its sourcing and mail-order expertise with Marubeni’s domestic and international networks. As part of its growth strategy, Prime will consider acquisitions in its current industry as well as new markets that will allow it to further expand its product line.
Steve Friedman will continue as president of Prime and there will be no changes to operating management. Prime will be managed within Marubeni America Corporation’s Transportation, Industrial Machinery and IT business unit. This unit also manages Marubeni’s auto leasing operation, Advantage Funding and dealership network, Drivepoint.
For more information about Marubeni, go to: www.marubeni-usa.com.
To learn more about Prime Automotive Warehouse, go to: www.primeautomotive.com.