Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
The two companies had combined 2011 web sales of $274.9 million.
Auto parts chain retailer AutoZone Inc. has acquired the assets and some debt of online auto parts retailer AutoAnything. Terms of the transaction, which was announced today, were not disclosed.
Few other details were released, but Memphis, TN-based AutoZone says it views the purchase of San Diego-based AutoAnything an opportunity to extend its web presence. “The company's culture and leadership is an outstanding fit with our company as we look forward to growing our e-commerce initiatives for many years to come,” says Bill Rhodes, chairman, president and CEO of AutoZone, No. 121 in the 2012 Internet Retailer Top 500.
AutoZone also reported modest increases in e-commerce and total sales for the first quarter of fiscal 2013.
For the quarter ended Nov. 17, AutoZone reported:
- E-commerce sales of $42.4 million, up by 5.4% from $40.2 million in the first quarter of fiscal 2012. Web revenue includes sales from parts and accessories web site AutoZone.com, and AllData.com, which sells diagnostic and related repair work software online.
- Total sales of $1.99 billion, an increase of about 3.6% from $1.92 billion.
- Comparable-store sales increased 0.2%.
- Net income of $203.5 million, up by 6.4% from $191.1 million in the first quarter last year.
AutoAnything, No. 157 in the Top 500, had web sales of $111.9 million in 2011, up by 13.8% from $98.3 million in the prior year. AutoZone reported e-commerce sales of $163 million in 2011, a 9.5% increase from $149 million in 2010.
AutoAnything is privately held and was founded in 1979 by Selwyn Klein; sons David and Trevor launched its online business in 1999.