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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (EVENT): September 25, 2000
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RANKIN AUTOMOTIVE GROUP, INC.
(Exact name of registrant as specified in its charter)
COMMISSION FILE NO: 0-28812
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Louisiana 72-0838383
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(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification No.)
3838 N. Sam Houston Pkwy. E.
Houston, TX 77032
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(Address of principal executive offices) (Zip code)
(281) 618-4000
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Registrant's telephone number, including Area Code
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Item 2. Disposition of Assets
On August 31, 2000, the Company signed a definitive agreement
to sell its right, title, and interest in certain assets of a group of stores
and a regional distribution center to a subsidiary of Replacement Parts, Inc.,
parent company of Crow-Burlingame Co. and Parts Warehouse, Inc. of Little Rock,
Arkansas. The Company consummated the transactions contemplated by the
definitive Asset Purchase Agreement on September 25, 2000. The assets sold
included 24 stores located in Mississippi and Louisiana, one distribution center
in Monroe, Louisiana, and assets related to sales to independent auto parts
store businesses serviced from that distribution center. The Company continues
to operate stores located in Shreveport/Bossier, and Southeast Louisiana, which
will be serviced out of the Company's Houston distribution center. The purchase
price for the assets was approximately $11.6 million, subject to certain
post-closing adjustments. The Asset Purchase Agreement is filed as an exhibit to
this Form 8-K.
Item 7. Financial Statements and Exhibits
a. Financial statements of business acquired
None
b. Pro forma financial information
None
c. Exhibits.
10.(1) Asset Purchase Agreement between Rankin
Automotive Group, Inc. and Southside
Acquisition Company, Inc. dated as of August
31, 2000.
99.(1) Press Release titled "Rankin to Focus on
Professional Installer Customers" dated
September 1, 2000.
99.(2) Press Release titled "Rankin Completes Sale
of Assets to Replacement Parts, Inc." dated
September 26, 2000.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereto duly authorized.
Rankin Automotive Group, Inc.
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(Registrant)
Dated: October 6, 2000 /s/ Randall B. Rankin
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Randall B. Rankin, Chief Executive Officer
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PURSUANT TO SEC REGULATION 8-K
601
INDEX TO EXHIBITS
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EXHIBIT
NUMBER DESCRIPTION PAGE NUMBERS
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10.(1) Asset Purchase Agreement between Rankin Automotive 5-33
Group, Inc. and Southside Acquisition Company, Inc.
dated as of August 31, 2000.
99.(1) Press Release titled "Rankin to Focus on Professional 34-35
Installer Customers" dated September 1, 2000.
99.(2) Press Release titled "Rankin Completes Sale of Assets 36-37
to Replacement Parts, Inc." dated September 26, 2000.
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