Advance Auto Parts is an American automotive parts retailer, founded in 1932. It is headquartered in Raleigh, North Carolina. Advance operates over 5,200 stores, 100 Worldpac branches, and serves approximately 1,300 independently owned Carquest branded stores in the United States, Puerto Rico, the U.S. Virgin Islands and Canada.
The company’s mission statement is “Advance Auto Parts is dedicated to empowering customers to get the job done right the first time.” Advance’s product offerings include batteries, brakes, engine parts, filters, hand tools, paint and body products, shop supplies, and more.
Advance Auto Parts was founded in 1932 by Richard E. Jacobs and Wilfred E. Leland in Roanoke, Virginia. The company was originally named Advance Stores Company Incorporated. In 1955 Advance Stores Company Incorporated changed its name to Advance Auto Parts Company.
The company went public in 1968 and began trading on the New York Stock Exchange under the ticker symbol AAP. In 1986 Advance Auto Parts acquired General parts Incorporated, a North Carolina based auto parts retailer with over 500 stores.
In 2001 Advance Auto Parts acquired Carquest Corporation for $2 billion. Carquest operated 3,400 stores across the United States, Canada, Puerto Rico and the U. Virgin Islands.
Who is the owner of Advance Auto Parts?The company is publicly traded on the New York Stock Exchange and is controlled by shareholders.
