Roanoke, Virginia -- January 24, 2014 -- Advance Auto Parts has closed a deal to buy General Parts International, making the company the single largest provider of aftermarket auto parts in North America.
Headquartered in Roanoke, Va., Advance Auto Parts operates over 4,000 stores in 39 U.S. states, Puerto Rico and the Virgin Islands. General Parts International distributes and supplies aftermarket parts under the Carquest brand, and original equipment parts under the Worldpac brand.
This transaction creates a company with annual sales of over $9.3 billion, a staff of over 70,000 and approximately 5,300 company operated stores across North America.
"This combination positions Advance as the largest automotive aftermarket provider of parts, accessories, batteries, and maintenance items in North America,â€ says Darren R. Jackson, Advance Auto Parts Chief Executive Officer. â€œStrategically 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."
As a result of the closing of this transaction, Advance will add to its operations 38 General Parts distribution centres, 1,248 company operated Carquest locations across Canada and the U.S., and will service approximately 1,400 independently owned Carquest locations, located primarily in Canada and the U.S.
Advance will also add Worldpac, an importer and distributor of original equipment and aftermarket replacement automotive parts to import specialists in North America and Puerto Rico operating 105 facilities across the U.S. and Canada, to its operations.