Market Overview

Advance Auto Parts to Acquire General Parts International for $2.04B in Cash

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Advance Auto Parts (NYSE: AAP) announced today that it has entered into a definitive agreement to
acquire General Parts International, Inc. (GPII), a leading privately
held distributor and supplier of original equipment and aftermarket
replacement products for commercial markets operating under the CARQUEST
and WORLDPAC brands, in an all-cash transaction with an enterprise value
of $2.04 billion. The transaction has been approved by the boards of
directors of both companies.

The transaction creates the largest automotive aftermarket parts
provider in North America, with annual sales of over $9.2 billion and
more than 70,000 Team Members. The strong combined financial profile

See full press release

 

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