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Wednesday, Oct 16
Advance Auto Parts looks to buy General Parts for over $2B
- Advance Auto Parts (AAP) reportedly intends to acquire closely held General Parts International, which owns the Carquest chain, for more than $2B in a deal that would create one of the largest providers of aftermarket auto-parts in North America.
- The combined company would have annual sales of $9.2B, similar to those of market leader AutoZone (AZO).
- The transaction would boost the sales that Advance Auto earns in the larger and faster growing commercial sector to 55% of its total revenue from 40%.