Advance Auto Parts Buying Carquest Parent in $2B Deal

Advance Auto Parts will become the largest auto-parts retailer in North America with a $2.04 billion cash deal to buy Carquest Auto Parts’ parent company General Parts International Inc. The combined company will have annual sales of $9.2 billion, pushing it just past Memphis, Tenn.-based AutoZone, which reported adjusted sales of roughly $9 billion for the fiscal year ended Aug. 31.