Advance Auto Parts Completes Acquisition of General Parts International
Jan. 3, 2014—Advance Auto Parts Inc., a provider of automotive aftermarket parts, announced on Thursday that it completed its acquisition of General Parts International Inc., a distributor and supplier of OE and aftermarket replacement products.
“We are excited about the completion of this transaction and the opportunity it presents for our customers and the over 70,000 team members,” said Darren R. Jackson, Advance Auto Parts CEO. “This combination positions Advance as the largest automotive aftermarket provider of parts, accessories, batteries, and maintenance items in North America. Strategically, it provides us with a compelling opportunity to expand our geographical presence, channels of distribution, and commercial capabilities to better serve customers and deliver value to shareholders.”
According to a press release_notes, Advance Auto Parts is now the largest automotive aftermarket parts provider in North America, with more than 700,000 workers and annual sales over $9.3 billion.
Advance Auto will add 38 general parts distribution centers, 1,248 company-operated CARQUEST locations across the U.S. and Canada, and will service approximately 1,400 independently owned CARQUEST locations primarily in the U.S. and Canada. Advance will also add 105 WORLDPAC facilities, an importer and distributor of original equipment and quality aftermarket replacement automotive parts to import specialists, across North America and Canada.