Advance Auto Parts Sells Wholesale Arm for $1.5 Billion
Advance Auto Parts(AAP) PYMNTS.com·2024-08-23 00:04
Advance Auto Parts has sold its wholesale operation Worldpac for $1.5 billion.The sale, to funds managed by the Carlyle Group, is expected to be finalized by the end of the year, Advance said in a Thursday (Aug. 22) news release.“The sale enables our team to sharpen their focus on decisive actions to turn around the Advance blended box business,” said CEO Shane O’Kelly.“Proceeds from the transaction will provide greater financial flexibility as we continue our strategic and operational review to improve the ...