Advance Auto Parts Closes Acquisition of General Parts International - Tire Review Magazine

Advance Auto Parts Closes Acquisition of General Parts International

Advance Auto Parts announced it has completed the acquisition of General Parts International.

 

The transaction creates the largest automotive aftermarket parts provider in North America with annual sales of more than $9.3 billion and more than 70,000 team members. The combined financial profile allowed for an all-cash transaction and supports Advance Auto Part’s commitment to maintaining its investment grade ratings. 

As a result of this transaction, Advance Auto Parts will add 38 General Parts International distribution centers to its operations, 1,248 company-operated Carquest locations in the U.S. and Canada and will service approximately 1,400 independently owned Carquest locations mostly in the U.S. and Canada. Advance will also add Worldpac, an importer and distributor of O.E. and quality aftermarket replacement automotive parts to import specialists, to its operations.

According to the company, the acquisition of General Parts International speeds Advance Auto Part’s growth strategy through the following benefits: 

- It moves Advance Auto Parts up the market ladder among automotive aftermarket parts providers.

- It will provide complete coast-to-coast coverage with about 5,300 company-operated stores in North America, expanding the company’s geographic footprint.

- It will expand Advance Auto Parts product and category offerings in its product lines.

- It will enhance Advance Auto Parts’ ability to serve customers.

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