Reported about 2 months ago
Carlyle Group Inc. has announced its acquisition of Advance Auto Parts Inc.'s Worldpac unit for $1.5 billion, marking its first significant industrial investment in over two years. Worldpac, which generates approximately $2.1 billion in revenue annually, is being sold as Advance Auto Parts faces pressure from shareholder activists to improve its competitive stance against rivals like AutoZone and O'Reilly Automotive. Carlyle's investment is seen as a timely move as the aftermarket vehicle parts industry remains resilient amid the aging vehicle landscape.
Source: YAHOO