O'Reilly Auto Parts
O’Reilly Automotive, Inc. is an American auto parts retailer that provides automotive aftermarket parts, tools, supplies, equipment, and accessories to professional service providers and do-it-yourself customers. Founded in 1957 by the O’Reilly family, the company operates more than 6,000 stores in 48 states, Puerto Rico, Mexico and Canada.[2]
Typical O'Reilly Auto Parts outlet | |
| Company type | Public |
|---|---|
| |
| Industry | Retail |
| Founded | December 2, 1957 |
| Founders |
|
| Headquarters | Springfield, Missouri, U.S. |
Number of locations | 6,157 (2023) |
Area served |
|
Key people | Brad Beckham (CEO) |
| Products | Auto parts |
| Revenue | US$15.81 billion (2023) |
| US$3.186 billion (2023) | |
| US$2.346 billion (2023) | |
| Total assets | US$13.87 billion (2023) |
| Total equity | US$−1.74 billion (2023) |
Number of employees | 90,302 (2023) |
| Website | oreillyauto |
| Footnotes / references [1] | |
History edit
Michael Byrne O’Reilly immigrated to America in 1849. Settling in St. Louis, he worked his way through school to earn a law degree, and then pursued a career as a title examiner.[3] His son, Charles Francis O’Reilly, attended college in St. Louis and went to work in 1914 as a traveling salesman for Fred Campbell Auto Supply in St. Louis. By 1924, Charles had become familiar with the Springfield area, having traveled by train to sell auto parts throughout the territory. By 1932, he had become manager of Link Motor Supply in Springfield, and one of his sons, Charles H. (Chub) O’Reilly, joined the company. Together they helped make Link Motor Supply the predominant auto parts store in the area.[3]
In 1957, Link planned a reorganization, which included the retirement of 72-year-old Charles F. O’Reilly, and the transfer of Chub O’Reilly to Kansas City. The two made the decision to form their own company, O’Reilly Automotive, Inc. They opened for business in Springfield, Missouri on December 2, 1957, with one store and 13 employees.[3][4] Their sales totaled $700,000 in 1958—their first full year of business. By 1961, the company's volume had reached $1.3 million in combined sales volume of O’Reilly Automotive and their Ozark Automotive Distributors, a division formed to serve independent automotive jobbers in the area. In March 1975, annual sales volume rose to $7 million and a 52,000 square-foot facility was built for the O’Reilly/Ozark warehouse operation. By that time, the company had nine stores, all located in southwestern Missouri.[3][5] As of December 2023, O'Reilly Automotive, Inc. operated more than 6,100 stores in 4 U.S. states, Mexico, and Puerto Rico[6].[4]
On April 23, 1993, the company completed an initial public stock offering, and since then trades on the NASDAQ market under the symbol ORLY. The company offers a stock purchase plan to employees in order to enable as many full-time team members as possible stock ownership in the company.[citation needed]
2020s edit
2023 was a year of exceptional growth for O'Reilly Auto Parts. In May of 2023, O’Reilly expanded into Puerto Rico, opening its first distribution center and two retail stores in Hatillo and Bayamón.[7]
In July of 2023, O'Reilly opened its first new distribution center in Guadalajara, Mexico. The company had been operating in Mexico since the end of 2019, when it completed the acquisition of Mexico-based Mayasa Auto Parts and its 21 ORMA-branded parts stores.[8] Then, in December, the company rebranded all of its more than 60 stores in Mexico to O'Reilly Autopartes.[9]
Expansion edit
Mergers and acquisitions edit
On January 30, 1998, O'Reilly merged with Hi/LO Auto Supply, adding 182 auto parts stores in Texas and Louisiana, as well as a distribution center in Houston.[10] The Hi/LO acquisition made O’Reilly one of the top 10 auto parts chains in the country. On April 25, 2000, the firm announced the purchase of KarPro Auto Parts, which included a 66,000 square-foot distribution center in Little Rock, Arkansas, and 14 KarPro stores.[11]
On October 1, 2001, O'Reilly purchased Mid-State Automotive Distributors, Inc., adding 82 additional auto parts stores in seven states, as well as two distribution centers.[12] The acquisition made the firm one of the top five auto parts chains in the country. It added its twelfth distribution center in Atlanta, Georgia in March 2005.[citation needed]
On May 31, 2005, O'Reilly purchased Midwest Automotive Distributors, Inc., adding 72 retail locations in Minnesota, Montana, North Dakota, South Dakota, Wisconsin, and Wyoming, as well as two distribution centers located in Minnesota and Montana.[citation needed]
On July 11, 2008, the company completed the largest acquisition in its history with the purchase of CSK Auto, adding 1,273 stores in 12 states.[13] This, combined with past acquisitions, made O’Reilly the third largest auto parts chain in the country after Advance Auto Parts and AutoZone.[citation needed]
In December 2012, O'Reilly announced it was purchasing the auto parts business of VIP Parts, Tires and Service, a Lewiston, Maine-based chain of 56 auto parts stores and service centers with locations in Maine, New Hampshire, and Massachusetts, and one distribution center in Maine. The purchase marked the firm's expansion into New England.[14]
In August 2016, O'Reilly entered the Pittsburgh market with the acquisition of the five-store Frank's Auto Supermarket chain.[15]
On October 26, 2016, O'Reilly announced that it was acquiring Bond Auto Parts, a 51-store chain headquartered in Vermont with locations in New Hampshire, Massachusetts, and New York as well.[16]
On November 13, 2018, O'Reilly announced that it was acquiring Florida-based Bennett Auto Supply, a 33-store chain headquartered in Pompano Beach.[citation needed]
On August 20, 2019, O'Reilly Auto announced it would acquire Mexico's Mayasa Auto Parts. This marked the company's first venture into international markets. Mayasa had five distribution centers, 20 company stores, and more than 2000 independent jobber locations throughout Mexico.[17] In December 2023, the Company rebranded its stores in Mexico to O'Reilly Autopartes.
On December 18, 2023, O'Reilly Auto announced it was acquiring Groupe Del Vasto, which does business as Vast-Auto and is headquartered in Montreal, Canada. This marked O'Reilly's entrance into the Canadian market. Vast-Auto operated two distribution centers and six satellite warehouses that supported a network of 23 company-owned stores, hundreds of strategic independent partners, as well as a widespread service reach that extended to thousands of other independent jobber and professional customers across Eastern Canada.
See also edit
References edit
- Notes
- ^ "2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 28, 2024.
- ^ "Corporate Information News Room". corporate.oreillyauto.com. Retrieved 2024-02-12.
- ^ a b c d . O'Reilly Auto Parts. Archived from the original on December 25, 2017. Retrieved December 24, 2017.
- ^ a b "Corporate Information: General Info". O’Reilly Auto Parts, Corporate. Retrieved 2018-07-25.
- ^ "ORLY 2021 Annual Report Form10K". U.S. Securities and Exchange Commission. Retrieved 2022-05-03.
- ^ https://corporate.oreillyauto.com/cmsstatic/O'Reilly%20Automotive,%20Inc.%20Fourth%20Quarter%20and%20Full-Year%202023%20Earnings%20Release.pdf
- ^ https://corporate.oreillyauto.com/cmsstatic/PuertoRico%20News%20Release%20for%20Island%20English%20FINAL.pdf
- ^ https://corporate.oreillyauto.com/cmsstatic/Guadalajara%20Puerto%20Vallarta%20Openings%20Mexico%20Release.pdf
- ^ https://corporate.oreillyauto.com/cmsstatic/Mexico%20Rebranding%20Springfield%20Version.pdf
- ^ Elder, Laura (December 28, 1997) Rejecting Discount: Hi-Lo finds new buyer for its retail operation Houston Business Journal
- ^ O'Reilly Automotive Announces Purchase of KarPro Auto Parts theautochannel.com
- ^ Bloomberg (2001-08-10). "Company News – O'Reilly to buy Mid-state Automotive for $46.2 MIillion". The New York Times. ISSN 0362-4331. Retrieved 2021-07-13.
- ^ "O'Reilly Automotive to Buy CSK Auto for $528 Million". Bloomberg. April 1, 2008.
- ^ O'Reilly purchasing VIP Auto's parts assets Tire Business, December 18, 2012
- ^ Cloonan, Pat (2016-08-22). "Frank's Auto stores becomes part of O'Reilly Auto Parts". The Herald-Standard. Retrieved 2022-07-06.
- ^ "O'Reilly Automotive, Inc. Reports Third Quarter 2016 Results and Announces Purchase Agreement With Bond Auto Parts" (PDF) (Press release). October 26, 2016.
- ^ O’Reilly Automotive, Inc. to Acquire Mayasa Auto Parts Headquartered in Guadalajara, Mexico; August 20, 2019 Press Release; Global News Wire; accessed December 2020
- Bibliography
- Naples, Gary, J. (2000). Beyond the Numbers: Managing the Assets of An Automobile Parts Business. SAE International. pp. 39–40. ISBN 0-7680-0122-6.
{{cite book}}: CS1 maint: multiple names: authors list (link) - Plunkett, Jack W. (2005). Plunkett's Retail Industry Almanac 2006: The Only Complete Reference To The Retail Industry. Plunkett Research. p. 10. ISBN 1-59392-055-5.
External links edit
- Official website
- Business data for O'Reilly Auto Parts:
- SEC filings
- Yahoo!