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Advance Auto Parts Announces Sale of Worldpac to Carlyle for $1.5 Billion

Aug 22, 2024

Contract Type

agreement

RaleighManufacturingSoftwareScience And EngineeringAutomotive

Description

Advance Auto Parts, Inc. has entered into a definitive agreement to sell Worldpac, Inc., an automotive parts wholesale distribution business, to funds managed by global investment firm Carlyle for $1.5 billion in cash. The sale will enable the Advance team to sharpen their focus on decisive actions to turn around the Advance blended box business, providing greater financial flexibility for future growth and value creation.

Quick answer

Advance Auto Parts Announces Sale of Worldpac to Carlyle for $1.5 Billion (August 22, 2024). Advance Auto Parts is based in Raleigh, North Carolina, United States.

What agreement did Advance Auto Parts announce on August 22, 2024?: Advance Auto Parts, Inc. has entered into a definitive agreement to sell Worldpac, Inc., an automotive parts wholesale distribution business, to funds managed by global investment firm Carlyle for $1.5 billion in cash. The sale will enable the Advance team to sharpen their focus on decisive actions to turn around the Advance blended box business, providing greater financial flexibility for future growth and value...
What does Advance Auto Parts do?: Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers.
Where is Advance Auto Parts based?: Advance Auto Parts is based in Raleigh, North Carolina, United States.

Source: Fundz verified event record.

Company Information

Company

Advance Auto Parts

Location

Raleigh, North Carolina, United States

About

Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of October 9, 2021, Advance operated 4,727 stores and 234 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The company also serves 1,325 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at www.AdvanceAutoParts.com.