VIP sells parts business to O’Reilly
O’Reilly Automotive Inc. announced that it has entered into a definitive agreement to purchase the auto parts related assets of VIP Parts, Tires & Service Corp. The asset purchase is expected to be completed on or about Dec. 31, 2012.
VIP is a 30-year-old privately held automotive parts, tires and service chain based in Lewiston, Maine. VIP currently operates 56 stores located throughout Maine, New Hampshire and Massachusetts as well as a distribution center located in Maine.
VIP is tied for 16th place on Modern Tire Dealer’s 2012 Top Independent Tire Dealer Chains in the U.S. list.
After the completion of the asset purchase agreement, VIP will continue to own and operate the tire and service components of the business and O’Reilly will own and operate the automotive parts sales and distribution operations of the business.