Advance Auto Parts sells Worldpac business for $1.2bn to improve supply chain efficiency and profitability.

Advance Auto Parts, valued at $2.4 billion, will gain $1.2 billion from selling its Worldpac business. This capital will support a turnaround led by CEO Shane O'Kelly, aimed at addressing profitability issues linked to an inefficient supply chain. If Advance achieves a 10% operating margin, it could generate nearly $1 billion in annual profits. The sale is expected to enhance the company's financial health and provide opportunities for growth.

October 19, 2024
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