U.S. News: AutoZone Buys 12-Store Chain

Memphis, Tenn.-based AutoZone has completed its buyout of 12 ABC Discount Auto Parts stores in southern New Jersey and eastern Pennsylvania.
The staff of ABC, founded in 1957, will stay on under AutoZone’s ownership.
AutoZone CEO Michael Archbold said the acquisition fits with the company’s strategy of developing through acquisition market areas in which the company is under-penetrated.
Financial terms were not disclosed.
AutoZone sells auto and light truck parts, chemicals and accessories through 3,299 AutoZone stores in 48 U.S. states and the District of Columbia.