Saturday, July 12, 2014





Advance Auto Parts buying General Parts for $2.04B


October 16. 2013 7:36AM
Associated Press

Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) Advance Auto Parts Inc. is buying General Parts International Inc. for $2.04 billion in cash, which the companies say will create the biggest automotive replacement parts provider in North America.


General Parts is a privately held distributor and supplier of original equipment and aftermarket replacement products for commercial markets operating under the Carquest and Worldpac brands.


Advance Auto will get 1,246 company operated stores and 1,418 independently owned Carquest locations as part of the acquisition.


The combined company will be based in Roanoke, Va., and continue to have a presence in Raleigh, N.C.


Both companies' boards approved the transaction, which is targeted to close by late 2013 or early 2014.


Advance Auto also said Wednesday it expects third-quarter earnings of $1.42 per share on revenue of $1.52 billion. Analysts predict earnings of $1.31 per share on revenue of $1.55 billion.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds