Carlyle to acquire Worldpac from Advance Auto Parts for $1.5bn.

Carlyle, a private equity firm, agreed to acquire Worldpac, an automotive parts wholesale distribution business, from Advance Auto Parts, an automotive aftermarket parts provider, for $1.5bn. “We are pleased to announce the sale of the Worldpac business. The sale enables our team to sharpen their focus on decisive actions to turn around the Advance blended box business. Proceeds from the transaction will provide greater financial flexibility as we continue our strategic and operational review to improve the productivity of the company’s remaining assets and better position the company for future growth and value creation. On behalf of everyone at Advance, I would like to thank the more than 5,000 Worldpac team members for their dedication over the last ten years,” Shane O’Kelly, Advance Auto Parts President and CEO.