BREAKING NEWS: Advance Auto Parts To Buy GPI

BREAKING NEWS: Advance Auto Parts To Buy GPI

The deal creates the largest automotive aftermarket parts provider in North America, with annual sales of more than $9.2 billion and more than 70,000 employees.

ROANOKE, Va. – Advance Auto Parts announced today that it has entered into a definitive agreement to acquire General Parts International, Inc. (GPI), 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 for both companies. The deal creates the largest automotive aftermarket parts provider in North America, with annual sales of more than $9.2 billion and more than 70,000 employees.

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