05/07/08

KOI BUYS TWO JOHN'S AUTO PARTS STORES IN DAYTON
KOI continues its expansion in the tri-state acquiring two John's Auto Parts store in Dayton, Ohio. John's Auto Parts On Valley Pike and John's in Huber Heights. The new acquisitions show KOI Auto Parts' commitment in growing and expanding in order to serve its customers needs better and faster.

Dayton Daily News Article on John's Auto Parts - Link
By Thomas Gnau - Staff Writer
Wednesday, May 07, 2008

DAYTON — John Aveyard has sold his last gasket. Aveyard, former owner of John's Auto Parts stores on Valley Street and Brandt Pike, said he sold his business to KOI Warehouse Inc., which took over the stores Monday, May 5. The company will continue to operate both stores as John's Auto Parts, Aveyard said, adding that he continues to own the buildings at 2200 Valley in Dayton and 7557 Brandt in Huber Heights. Cincinnati-based KOI — which operates KOI Auto Parts shops — will rent the properties, he said.

Aveyard, of Medway, said his family has owned the stores since 1960, and business increased each year, every year. The stores saw $3 million in sales last year, and he estimates that his stores were the biggest auto parts operations in Ohio by volume.The stores had about 16 delivery vehicles, which were included in the sale, he said. While business was good, Aveyard said there wasn't a young generation poised to take over the business. He has been dealing with health concerns, so he felt the time was right.

His sons — John and Brian — will continue to manage the stores, with 32 full- and part-time employees. "It was just time to sell," Aveyard said. "I'm 66, my wife is 65, and my two sons run the stores. But we don't have another generation to run the stores." The family opened its first auto parts store on Valley. Finding a buyer to take over the stores took six months, Aveyard said. "It was a great run. ... I really hated to sell," he said.

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