Advance Auto Parts Inc, acquires Carquest auto parts supplier

Advance Auto Parts Inc, is going to be buying Carquest, an auto parts supplier which operates 1,246 locations throughout the United States. This purchase will make Advance Auto Parts, Inc the largest supplier of auto parts in North America. The deal is supposed to be finalized later this year or early 2014. The cash deal is worth $2.05 billion and will create a “compelling strategic opportunity” according to Advance CEO Darren Jackson.

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