An Overview of the Evolution of Advance Auto Parts

This article traces the history and growth of Advance Auto Parts, highlighting key acquisitions, expansion milestones, and sponsorship activities. It offers insights into how the company became a leading auto parts retailer in the U.S., with detailed milestones and ownership details, providing valuable industry perspective.

Understanding the Development of Advance Auto Parts

Headquartered in Roanoke, Virginia, Advance Auto Parts is a prominent retailer specializing in automotive parts and accessories across the United States. Alongside Carquest, it operates more than 1,300 independent stores and 5,200 company-owned outlets nationwide. The company employs over 70,000 staff members, making it the largest auto parts retailer in terms of store ownership in the country.

The company's journey began in 1932 when Arthur Taubman acquired the Advance Stores from Pep Boys, starting with a single location in Lynchburg and two in Roanoke, Virginia.

The company's major expansion occurred in 1998 when it acquired Western Auto's operations, a major auto parts retailer. Sears, Roebuck & Co. had previously acquired a majority stake in Western Auto in 1987. In 2001, Advance Auto Parts expanded further by purchasing Carport Auto Parts, a regional chain with 29 stores in Mississippi and Alabama.

In the same year, Advance Auto Parts acquired Discount Auto Parts Inc., a regional chain with over 600 stores across several southeastern states, on November 28, 2001. With these acquisitions, the company's footprint grew significantly.

By 2001, Advance Auto Parts had expanded to over 2,400 stores across 38 states and was publicly traded on the New York Stock Exchange under the ticker symbol AAP. In July 2002, the company acquired 57 Trak Auto stores in the Washington D.C. area with bankruptcy court approval. In 2005, Auto Part International Inc., with 202 stores along the Atlantic coast, was also acquired and continues to operate as a segment within Advance Auto Parts.

In 2013, Advance Auto Parts acquired General Parts Inc., Carquest Canada, and WorldPac for approximately $2.04 billion. The company has also sponsored various motorsport events, including NASCAR and Daytona races, and sponsored trucks like the Advance Auto Parts Grinder from 2010 to 2013.

Major institutional investors such as Wellington Management Group, The Vanguard Group, Lazard, State Street Corporation, and BlackRock hold significant shares in Advance Auto Parts, reflecting its strong market presence.

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