Advance Auto Parts (NYSE: AAP), Raleigh, N.C.-based automotive aftermarket parts distributor, has sold its wholesale distribution business Worldpac Inc. to investment firm Caryle for $1.5 billion in cash.
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“The sale enables our team to sharpen their focus on decisive actions to turn around the Advance blended box business,” said Shane O’Kelly, president and chief executive officer of Advance Auto Parts.
The Worldpac business generated approximately $2.1 billion in sales over the last 12 months at the end of the second quarter of 2024. There are more than 5,000 employees and 321 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands.
