PGI, a global supply network of automotive replacement parts, has reached an agreement to acquire the assets of Auto 7, Inc. (Miramar, Florida), a leading supplier of OEM automotive parts to the aftermarket.
The announcement was made by Anan E. Bishara, CEO, and President of PGI. “We are excited about the acquisition of Auto 7,” Bishara noted. “This successful ISO-certified replacement parts supplier has been in business for over 65 years, servicing retailers, warehouse distributors, and the growing e-commerce aftermarket.
Although Auto 7 has been primarily focused on Korean OEM brands such as Hyundai, Kia, and GM-Korea, the growing demand for OEM parts in today’s aftermarket creates a great opportunity to further expand the business to a wider coverage of import makes including Toyota, Honda, Nissan, Subaru, and others.”
PGI will move all of the Auto 7 inventory into its main distribution center in Memphis, Tennessee to consolidate operations and logistics while continuing to provide customers with prompt service and support. Bishara continued, “The first course of action will be to ensure all business operations continue smoothly and that its parts inventories and fill rates are maintained at the levels our customers need in order remain successful and profitable.”
The Auto 7 brand of Korean replacement parts consists of 14 product categories, which represent 130,000 applications. Many of Auto 7’s product offerings include parts not typically available through the traditional aftermarket supply chain. Patrick Sommerfeld Named Director For the last three years, Patrick Sommerfeld has served as Auto 7’s vice president of sales and has now joined the PGI team as director of Auto 7. Prior to Auto 7, Sommerfeld served in various leadership roles in sales, marketing, and product at Wells Vehicle Electronics and Goodyear Tire & Rubber for 17 years.
“Pat is a 21-year veteran of the automotive industry and brings a tremendous amount of experience and expertise to our team. His insight and knowledge of Auto 7’s business and customer needs will be an invaluable contribution to our organization. I am very much looking forward to working with him to make our transition successful and continue to grow the business,” Bishara noted.