Advance Auto Parts has finalized its sale of Worldpac to global investment firm Carlyle, according to a press release.
Plans for the sale were first announced this past August, with Carlyle paying $1.5 billion in cash for the company.
An update on further plans for Worldpac will be provided at an upcoming earnings call on Nov. 14.
“The completion of the Worldpac transaction is a pivotal moment in the simplification of our business model,” said Advance Auto Parts President and CEO Shane O’Kelly. “The sale enables us to focus on actions to strengthen our blended-box business, which will elevate the performance of our core operations, and support our goal of delivering consistent profitable operating results.”
