Advance Auto Parts Announces Closing of Acquisition of BWP Distributors
ROANOKE, Va.--(BUSINESS WIRE)--
Advance Auto Parts, Inc. (NYSE: AAP), a leading retailer of automotive
aftermarket parts, accessories, batteries, and maintenance items,
announced today that it has completed the acquisition of B.W.P.
Distributors, Inc. (BWP) in an all-cash transaction.
BWP, a privately held company that supplies, markets and distributes
automotive aftermarket parts and products principally to commercial
customers, was founded in 1962 and is based in Armonk, New York. BWP
operates or supplies 216 locations in Connecticut, Delaware, Maryland,
Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode
Island, and Vermont. This acquisition will enable Advance Auto Parts to
continue its expansion in the Northeast, which continues to be a
strategic growth area for Advance.
As a result of the closing of this transaction, Advance will operate 124
BWP company-owned stores and will transfer the rights to distribute to
92 independently owned locations to an affiliate of General Parts
International, Inc. (GPI), a privately held auto supply company.
Additionally, Advance will continue to operate two of BWP’s distribution
centers in Sutton, Massachusetts and Delran, New Jersey.
About Advance Auto Parts
Headquartered in Roanoke, Va., Advance Auto Parts, Inc., a leading
automotive aftermarket retailer of parts, accessories, batteries, and
maintenance items in the United States, serves both the do-it-yourself
and professional installer markets. As of October 6, 2012, the Company
operated 3,727 stores in 39 states, Puerto Rico, and the Virgin Islands.
Additional information about the Company, employment opportunities,
customer services, and online shopping for parts, accessories and other
offerings can be found on the Company's website at www.AdvanceAutoParts.com.
Certain statements contained in this release are forward-looking
statements, as that statement is used in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements address future
events or developments, and typically use words such as believe,
anticipate, expect, intend, plan, forecast, outlook or estimate. These
statements discuss, among other things, expected growth and future
performance, including store growth, capital expenditures, comparable
store sales, SG&A, operating income, gross profit rate, free cash flow,
profitability and earnings per diluted share for fiscal year 2012. These
forward-looking statements are subject to risks, uncertainties and
assumptions including, but not limited to, competitive pressures, demand
for the Company's products, the market for auto parts, the economy in
general, inflation, consumer debt levels, the weather, business
interruptions, information technology security, availability of suitable
real estate, dependence on foreign suppliers and other factors disclosed
in the Company's 10-K for the fiscal year ended December 31, 2011 on
file with the Securities and Exchange Commission. Actual results may
differ materially from anticipated results described in these
forward-looking statements. The Company intends these forward-looking
statements to speak only as of the time of this news release and does
not undertake to update or revise them as more information becomes
available.
Advance Auto Parts, Inc. Media Shelly Whitaker, APR,
540-561-8452 shelly.whitaker@advanceautoparts.com or Investor Joshua
Moore, 952-715-5076 joshua.moore@advanceautoparts.com
Press Release $AAP Advance Auto Parts Inc.
ROANOKE, Va.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (NYSE: AAP), a leading retailer of automotive aftermarket parts, accessories, batteries, and maintenance items, announced today that it has completed the acquisition of B.W.P. Distributors, Inc. (BWP) in an all-cash transaction.
BWP, a privately held company that supplies, markets and distributes automotive aftermarket parts and products principally to commercial customers, was founded in 1962 and is based in Armonk, New York. BWP operates or supplies 216 locations in Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont. This acquisition will enable Advance Auto Parts to continue its expansion in the Northeast, which continues to be a strategic growth area for Advance.
As a result of the closing of this transaction, Advance will operate 124 BWP company-owned stores and will transfer the rights to distribute to 92 independently owned locations to an affiliate of General Parts International, Inc. (GPI), a privately held auto supply company. Additionally, Advance will continue to operate two of BWP’s distribution centers in Sutton, Massachusetts and Delran, New Jersey.
About Advance Auto Parts
Headquartered in Roanoke, Va., Advance Auto Parts, Inc., a leading automotive aftermarket retailer of parts, accessories, batteries, and maintenance items in the United States, serves both the do-it-yourself and professional installer markets. As of October 6, 2012, the Company operated 3,727 stores in 39 states, Puerto Rico, and the Virgin Islands. Additional information about the Company, employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found on the Company's website at www.AdvanceAutoParts.com.
Certain statements contained in this release are forward-looking statements, as that statement is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements address future events or developments, and typically use words such as believe, anticipate, expect, intend, plan, forecast, outlook or estimate. These statements discuss, among other things, expected growth and future performance, including store growth, capital expenditures, comparable store sales, SG&A, operating income, gross profit rate, free cash flow, profitability and earnings per diluted share for fiscal year 2012. These forward-looking statements are subject to risks, uncertainties and assumptions including, but not limited to, competitive pressures, demand for the Company's products, the market for auto parts, the economy in general, inflation, consumer debt levels, the weather, business interruptions, information technology security, availability of suitable real estate, dependence on foreign suppliers and other factors disclosed in the Company's 10-K for the fiscal year ended December 31, 2011 on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results described in these forward-looking statements. The Company intends these forward-looking statements to speak only as of the time of this news release and does not undertake to update or revise them as more information becomes available.
Advance Auto Parts, Inc.
Media
Shelly Whitaker, APR, 540-561-8452
shelly.whitaker@advanceautoparts.com
or
Investor
Joshua Moore, 952-715-5076
joshua.moore@advanceautoparts.com
Source: Advance Auto Parts, Inc.