Advance Auto Parts Enters Definitive Deal To Sell Worldpac To Funds Managed By Carlyle For $1.5B In Cash
Portfolio Pulse from Benzinga Newsdesk
Advance Auto Parts has agreed to sell its Worldpac business to Carlyle for $1.5 billion in cash. Worldpac generated $2.1 billion in revenue and $100 million in EBITDA over the past year. Advance Auto Parts expects net proceeds of $1.2 billion after taxes and fees.
August 22, 2024 | 10:16 am
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POSITIVE IMPACT
Advance Auto Parts is selling its Worldpac business to Carlyle for $1.5 billion. This sale will provide AAP with $1.2 billion in net proceeds, potentially strengthening its financial position.
The sale of Worldpac will provide Advance Auto Parts with significant cash inflow, which can be used to improve its balance sheet or reinvest in core operations. This is likely to be viewed positively by investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Carlyle is acquiring Worldpac from Advance Auto Parts for $1.5 billion. This acquisition could enhance Carlyle's portfolio with a business generating $2.1 billion in revenue.
The acquisition of Worldpac adds a revenue-generating business to Carlyle's portfolio, which could be seen as a strategic move to enhance its investment holdings.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80