Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns run through Advance Auto Parts's acquisitions — what it looks for, how it pays, and how it folds in what it buys.
2 acquisitions — each with the deal value, financing structure, target revenue, and executive commentary where disclosed.
General Parts International (GPII) was a privately held distributor and supplier of original equipment and aftermarket replacement products for commercial markets, operating under the CARQUEST and WORLDPAC brands. The deal added 38 distribution centers, 1,248 company-operated CARQUEST locations across the US and Canada, roughly 1,400 independently owned CARQUEST locations, and WORLDPAC's 105 import-parts facilities. It created the largest automotive aftermarket parts provider in North America, with combined annual sales over $9.3 billion and more than 70,000 team members. $2.04 billion (enterprise value).
This transformational transaction provides a compelling strategic opportunity for Advance to expand our geographic presence and commercial capabilities to better serve customers. The addition of 1,246 company operated stores and 1,418 independently owned CARQUEST locations provides us with an immediate platform and scale across North America, full market coverage and the opportunity to position ourselves as the market leader in the commercial business.Darren R. Jackson — Chief Executive Officer, Advance Auto Parts
We are excited to bring together two highly complementary automotive aftermarket companies. The combination with Advance Auto Parts is the next logical step in our company's evolution. Advance's retail presence, strong capability infrastructure and acquisition integration experience combined with GPII's leadership in the commercial, independent and import segments creates a powerful platform to drive profitable growth.O. Temple Sloan III — President, General Parts International
B.W.P. Distributors, founded in 1962 and based in Armonk, New York, supplied, marketed and distributed automotive aftermarket parts principally to commercial customers, operating or supplying 216 locations across Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont. Advance took 124 BWP company-owned stores plus distribution centers in Sutton, Massachusetts and Delran, New Jersey, and transferred the rights to distribute to 92 independently owned locations to an affiliate of General Parts International. The deal value was not disclosed.
We are excited about the combination of our two businesses as it will position us for accelerated growth in the Northeast. This new partnership with BWP is another example of Advance's commitment to long-term growth and serving commercial customers.Darren R. Jackson — President and Chief Executive Officer, Advance Auto Parts
We thank Advance Auto Parts for this exciting new relationship. Our rich history of serving commercial customers, combined with Advance Auto Parts' best-in-class commercial capabilities, will allow us to build on our strong service reputation with our customers.Neil Stockel — President, B.W.P. Distributors