>

Advance Auto Parts Sells Worldpac Subsidiary to Carlyle Group for $5 Billion

What's the News?

Advance Auto Parts (AAP) has agreed to sell its Worldpac subsidiary to Carlyle Group (CG) for $5 billion in cash.

Who is Involved?

• Advance Auto Parts (AAP)
• Carlyle Group (CG)

What is the Impact?

The deal represents the first major industrial investment for Carlyle Group since the COVID-19 pandemic.

Details of the Deal

Price and Terms

Carlyle Group will acquire Worldpac for $5 billion in cash.

Timeline

The transaction is expected to close in the fourth quarter of 2024.

Strategic Significance

The sale of Worldpac will allow Advance Auto Parts to focus on its core business of providing automotive parts and services. For Carlyle Group, the acquisition is a significant investment in the automotive aftermarket industry.

About Advance Auto Parts

Advance Auto Parts is a leading provider of automotive parts, accessories, and services in the United States and Canada.

About Carlyle Group

Carlyle Group is a global private equity firm with over $300 billion in assets under management.

Conclusion

The sale of Worldpac to Carlyle Group is a major development in the automotive aftermarket industry. The deal will have a significant impact on both Advance Auto Parts and Carlyle Group, and it is expected to close in the fourth quarter of 2024.