Advance Auto Parts (AAP) announced that it has entered into a definitive agreement to sell Worldpac, an automotive parts wholesale distribution business, to funds managed by global investment firm Carlyle (CG) for $1.5B in cash. The transaction is expected to close before the end of the year. Over the last twelve months, at the end of the second quarter of 2024, the Worldpac business generated approximately $2.1B in revenue and approximately $100M in EBITDA. Advance expects net proceeds of approximately $1.2B after taxes and transaction fees.
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