Carquest
 | This article needs additional citations for verification. (June 2012) |
 | |
| Company type | Public |
|---|---|
| Industry | Aftermarket Auto parts wholesale/retail |
| Founded | 1974 |
| Headquarters | Raleigh, North Carolina, USA |
Area served | United States, Canada, Mexico |
Key people | David McCartney, President-NA |
| Products | OE auto parts, automotive finishes, tools & equipment, professional training, business management |
Number of employees | approx. 18,000 team members |
| Website | www.carquest.com United States www.carquest.ca Canada |
Carquest Auto Parts is an automotive parts distribution network that is currently owned and operated by Advance Auto Parts, Inc. via independent retailers associated with the network. As of April 19, 2014 Advance operated 5,276 company-operated stores, 105 Worldpac branches, and served approximately 1,400 independently owned CARQUEST branded stores in 49 states, Puerto Rico, the Virgin Islands and Canada. Advance employs approximately 74,000 Team Members.
Sponsorships
CARQUEST is title right sponsor of the CARQUEST NHRA Event in Phoenix, Arizona. The first event took place February, 2014.
CARQUEST was a partner with Barrett-Jackson and their auctions until 2014.
Carquest was the official auto parts supplier of Hendrick Motorsports until the end of the 2011 season. Kellogg's and Carquest announced on May 26, 2006 a unique three-year agreement with Hendrick Motorsports that secures the two companies as co-primary sponsors of the No. 5 Chevrolets driven by Kyle Busch in the NASCAR NEXTEL Cup Series.
On September 9, 2007, the two companies announced Casey Mears will drive the No. 5 Kellogg's/Carquest Chevrolets for Hendrick Motorsports in the 2008 NASCAR Sprint Cup Series, joining a team that secured its second consecutive Chase for the Championship berth Sunday, September 2, 2007 at California Speedway.
In 2008, Hendrick Motorsports announced that Mark Martin, a seasoned veteran would be driving the car in 2009. Carquest has continued to sponsor Mark Martin in 2010 and 2011. Carquest Auto Parts has primary sponsor placement in eight points races on the No. 5 Chevy driven by Mark Martin during the 2011 NASCAR Sprint Cup season.
Carquest Auto Parts joined Hendrick Motorsports in 2002 as an associate sponsor of Chevrolets driven by the late Ricky Hendrick in the NASCAR Busch Series. The relationship carried over to the following season, resulting in a NASCAR Busch Series championship with driver Brian Vickers, and has since transitioned into the NASCAR Sprint Cup Series.
The company sponsored the Carquest Bowl (now Champs Sports Bowl) from 1994–1997, 3-time IHRA Drag Racing Top Fuel Champion Paul Romine from 1997–2004 and from 2001-2004 was associated with the No. 2 Team ASE NASCAR Craftsman Truck driven by Scott Riggs and Jason Leffler. It also sponsored NHRA drag races from 2003 - 2007.
Stores
There are over 2,800 Carquest Auto Parts stores in North America[1][2] and one location in Northern Mariana Islands.
General Parts, Inc., the largest Carquest franchise and owner of the Carquest distribution network, acquired Parts Source, the Clearwater-based owner of Ace Auto Parts stores in 1999.[3][4]
WorldPac
WorldPac was formed in 1995 by the merger of WorldWide Trading Corp. (WWTC) and Imported Parts and Accessories (IMPAC).[5]
WorldPac was acquired by Carquest in 2004.[6]
History
The CarQuest marketing alliance that was formed in 1974 with General Parts being the largest member. By 2011 General Parts owned 1,400 out of CarQuest’s 3,400 auto parts stores across North America.[7] O. Temple Sloan Jr. started General Parts in 1961.
Carquest acquired Worldpac in 2004, but kept its operations separate.[6]
General Parts received $258 million in 2011 for selling 33 of the company’s distribution centers and office buildings in a long-term sale-leaseback deal.[7]
In June 2012, Carquest Auto Parts relaunched its Carquest.com Web site, offering buy online, pick up in store commerce.
In December 2012, Advance Auto Parts acquired WD B.W.P. Distributors, which supplied the Northeast.[8] On October 16, 2013 it was announced that CARQUEST will be acquired by Advance Auto Parts, Inc in an all-cash transaction estimated at $2.04 Billion dollars.[9] The deal is expected to close by early 2014. The deal was finalized on January 3rd 2014.[10][11]
Carquest Canada has 200 stores in eastern Canada with supplied by distribution centers in Toronto, Montreal, and Saint John, New Brunswick.
References
- ^ Wilson, Bill (2007-08-07). "Carquest expanding in Wichita" (excerpt). Wichita Eagle. Retrieved 2008-06-26.
Carquest is expanding its 3000-store base nationwide...
- ^ Sangimino, Pat (2007-12-21). "Carquest opens two Wichita locations, takes aim at commercial repair market". Wichita Business Journal. p. 2. Retrieved 2008-06-26.
- ^ "Ace Auto Parts Announces Merger with General Parts, Inc". The Auto Channel. Advance Auto Parts. February 17, 1999.
- ^ Sigo, Shelly (March 1, 1999). "Retail ventures blossom in the Tampa Bay area". Tampa Bay Business Journal.
- ^ "WorldPac Becomes 1st Supply Partner to Join MyRepairShop's Network". Auto Channel. 30 October 2000.
- ^ a b Moore, Bob (December 1, 2004). "Staid CARQUEST makes bold acquisition". Aftermarket Business.
- ^ a b Hoyle, Amanda Jones (January 7, 2011). "General Parts gets $258M in deal". Triangle Business Journals.
- ^ "Advance Auto Parts Announces Acquisition Of BWP Distributors". AftermarketNews. December 19, 2012.
- ^ "Advance Auto Parts to Acquire General Parts International, Inc. in All-Cash Transaction with Enterprise Value of $2.04 Billion" (Press release). October 16, 2013.
- ^ Jaisinghani, Sagarika (October 16, 2013). "Advance Auto expands repair shop business with $2 billion buy". Reuters.
- ^ Snipes, Cameron (December 16, 2013). "Year in Review: Sloan sells Raleigh's General Parts for $2 billion". Triangle Business Journals.