FleetPride Acquires Pardo's Truck Service Parts Warehouse Location in Kearny, New Jersey

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Mar 30, 2015, 04:42 ET

IRVING, Texas, March 30, 2015 /PRNewswire/ -- FleetPride, Inc., the nation's largest independent distributor of aftermarket heavy-duty truck and trailer parts, announced today that it has acquired the assets of the Kearny, New Jersey, store at 1010 Belleville Turnpike owned by Pardo's Truck Service Parts Warehouse, Inc.

On January 27, 2015, FleetPride purchased six other Pardo's locations in the New Jersey, Pennsylvania and Maryland markets, and secured an option to acquire the Kearny location at a later date. After reviewing the opportunity presented by the Kearny location, FleetPride decided to move forward with this seventh store acquisition from Pardo's.

"Adding this Pardo's location in Kearny to FleetPride's system represents one more step toward our goal of establishing an integrated network of branches in the northeastern U.S. that are conveniently located for our customers," said Kevin Peters, CEO at FleetPride. "FleetPride now has 66 branches throughout this strategically important region."

With the closing of the Kearny store sale on March 30, Dominick Pardo, owner of Pardo's, has divested all of his repair and maintenance parts locations in the region. He now plans to focus fully on his service and tractor leasing business.

The Kearny branch operations and sales teams will continue to meet the product and service needs of its customers, and the store inventory will be expanded to include FleetPride's core product offerings.

"Increasing inventory in stock at the Kearny location will be an immediate focus for FleetPride," said Peters. "We're committed to providing outstanding service and are also leveraging our distribution capabilities and supplier relationships to deliver superior value for all our customers."

About FleetPride, Inc.
FleetPride, Inc. (www.fleetpride.com) is America's premier nationwide supplier of heavy-duty truck and trailer parts and the industry's largest wholly owned independent distributor with more than $1 billion in sales in 2014. The Company operates over 260 locations in 45 states and carries a full line of nationally recognized, brand-name parts, as well as an assortment of exclusive-brand parts. In addition, FleetPride offers in-house remanufactured products, such as brake shoes and driveline components. Truck and trailer repair services are also offered at a number of locations.

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SOURCE FleetPride, Inc.