OLIVE
BRANCH, Miss. — Prime Automotive Warehouse and Warren Distribution
announced that they have reached an agreement to transfer Warren’s
Jobber Division to Prime.
“This acquisition fits with Prime’s vision
to become the leading wholesaler in the automotive aftermarket and the
premier supplier to the independent jobber channel and enhances Prime’s
positioning to provide customers even more product choices. As a member
of Marubeni Corp., Prime has ready access to affordable capital,
leading capabilities and global marketing networks, which support
Prime’s strategy of continued growth through acquisitions,” said Steve
Friedman, president of Prime.
“This is a great opportunity for
Warren’s employees, customers and suppliers to continue to grow in the
automotive aftermarket. This sale of Warren’s Jobber Division to Prime
will allow Warren Distribution to focus more on our strategic business.
We are excited about supporting Prime as a supplier and look forward to
our respective continuing growth,” said Warren Group Vice President
Richard Jacobson.
With the acquisition, all employees from Warren’s
Jobber Division will become employees of Prime while remaining located
in Omaha, Neb. No jobs are expected to be eliminated as a result of the
acquisition.
Prime will immediately begin transitioning the
distribution of acquired products from Warren’s Omaha location to
Prime’s Olive Branch, Miss., location — part of the Memphis, Tenn.,
centrally located distribution center.
In anticipation of the acquisition, Prime recently increased its warehouse product space by some 40 percent.
The acquisition is expected to close within the next 60 days.
Founded
in 1982, Prime Automotive Warehouse distributes automotive parts,
tools, chemicals and accessories to automotive jobbers and independent
distributors globally.