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Carquest by Advance Opens New Store in Virginia
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By Advance Auto Parts
RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts (NYSE: AAP), a leading automotive aftermarket parts provider, the official auto parts retailer of NASCAR, and official partners of the NTT INDYCAR SERIES and Indianapolis Motor Speedway, is kicking off the summer travel season by offering its Speed Perks loyalty rewards members the chance to win a bucket-list motorsports experience to “Do the Double.”
This press release features multimedia. View the full release here: link hidden, please login to view
On May 26, Advance will send one winner and their guest on a free VIP experience to attend the 108th running of the famed Indianapolis 500 before traveling to North Carolina to watch the Coca-Cola 600, one of NASCAR’s crown jewel events, held at Charlotte Motor Speedway. Fans can enter for their chance to Do the Double from May 1-12 at link hidden, please login to view. Race fans can enter up to three times per day during the program.
To be eligible to win, entrants must be members of Advance’s Speed Perks loyalty rewards program. Speed Perks is free to join, and upon signing up, new members will receive $5 off their first in-store or online purchase of $20 or more. Race fans can sign up for Speed Perks at link hidden, please login to view.
For race car drivers, doing the double involves competing in both the Indianapolis 500 and Coca-Cola 600 in the same day. It is one of the most challenging feats for any race car driver to attempt, given the significant differences between open-wheeled INDYCAR SERIES cars and NASCAR stock cars. In fact, only four drivers have completed the double since 1994.
This includes three-time NASCAR Cup Series™ champion Tony Stewart, who won the 1997 INDYCAR SERIES title prior to beginning his hall-of-fame NASCAR career. Stewart is partnering with Advance on link hidden, please login to view and is the perfect ambassador for the program.
Stewart has done the double twice. His first attempt came in 1999 when he became the first driver to complete both races in the same day, finishing ninth and fourth, respectively, in the Indianapolis 500 and Coca-Cola 600, driving a total of 1,090 miles.
Stewart repeated this feat in 2001 and bettered his mark from 1999. He finished on the lead lap in sixth at the Indianapolis 500 before jetting off to Charlotte for the Coca-Cola 600. He improved that finish as well, coming home third in the 600-miler. Stewart completed all 1,100 miles – breaking his own record for most racing miles driven in a single day.
“This is the chance of a lifetime for a fan to also complete the double by having a front-row seat at the Indianapolis 500 and Coca-Cola 600,” Stewart said. “Advance Auto Parts has put together a fantastic program that is truly unique. Doing the double is history in the making and thanks to Advance, a fan and their guest will get to experience it all in real time. They’ll both be able to say, ‘I was there.’”
“Historically, doing the double has been a journey reserved for only the world’s most talented and dedicated race car drivers, like Advance brand partner Tony Stewart,” said Junior Word, Advance’s executive vice president, U.S. stores. “Now, one lucky Speed Perks member will have the unique opportunity to ‘get in the driver’s seat’ to experience their own version of the double. Advance is thrilled to work alongside our partners at NASCAR, INDYCAR and Indianapolis Motor Speedway to give two race fans the memory of a lifetime.”
About Advance Auto Parts
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of December 30, 2023, Advance operated 4,786 stores and 321 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,245 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at link hidden, please login to view.
View source version on link hidden, please login to view: link hidden, please login to view
Investor Relations:
Elisabeth Eisleben
T: (919) 227-5466
E: [email protected]
Media Relations:
Darryl Carr
T: (984) 389-7207
E: [email protected]
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By NAPA
ATLANTA, May 1, 2024 /
link hidden, please login to view/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, announced today an acquisition for its U.S. Automotive business. Effective April 30, 2024, the company acquired Motor Parts & Equipment Corporation (MPEC). MPEC, founded in 1938, is based in Rockford, Illinois. It is the largest independent owner of NAPA Auto Parts stores in the U.S., operating 181 locations across Illinois, Indiana, Iowa, Michigan, Minnesota and Wisconsin.
"We are pleased to announce the completion of this strategic acquisition, which aligns with our initiative to own more NAPA stores in priority markets," said Will Stengel, President & CEO-elect of GPC. "We appreciate our long-standing partnership with MPEC's Executive Chairman, Joseph Hansberry, and welcome our new MPEC teammates to GPC and NAPA. We are excited to work together to deliver solutions and value to our customers."
About Genuine Parts Company
Established in 1928, Genuine Parts Company is a leading global service organization specializing in the distribution of automotive and industrial replacement parts. Our Automotive Parts Group operates across the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal, while our Industrial Parts Group serves customers in the U.S., Canada, Mexico and Australasia. We keep the world moving with a vast network of over 10,700 locations spanning 17 countries supported by more than 60,000 teammates. Learn more at
link hidden, please login to view. SOURCE Genuine Parts Company
For further information: Investor, Timothy Walsh, (678) 934-5349, Senior Director - Investor Relations; Media, Heather Ross, (678) 934-5220, Vice President - Strategic Communications
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By NAPA
As he celebrated 30 years as a professional drag racer, Funny Car superstar Ron Capps was looking forward to a long race day on Sunday at the NHRA Arizona Nationals at Firebird Motorsports Park. The three-time world champion entered eliminations in the No. 11 position on the ladder but made an early exit against Blake Alexander in the first round of competition.
Aboard his brand-new link hidden, please login to view Toyota GR Supra, Capps battled to gain a favorable spot on the ladder among a stacked Funny Car field. Typically, teams at this elite level within the sport will go through several test sessions with a new car before throwing it into the intensity of NHRA Mission Foods Drag Racing Series competition, so Capps, crew chief Dean ‘Guido’ Antonelli, and the Ron Capps Motorsports team knew that they would experience some trial and error. His first qualifying effort went up in a puff of smoke, but his second attempt showed more promise as he powered to the finish line with a run of 4.020 seconds at 310.34 MPH. A loss of traction in the third qualifying round forced Capps to shut off early, marking the first time in 20 events for him to begin eliminations from the bottom half of the field.
“Building into the race we had the excitement of the 30 years. Having fans come up throughout the weekend and saying, ‘Happy Anniversary’ and things like that, it was fun,” began Capps as he recalled his weekend. “I always try to keep our NAPA fans updated as much as we can about what goes on with our team. We brought out a new chassis. It’s something we built in the off-season. Rather than testing first, we decided to do it in race conditions and that’s hard to do. But it reminds me a lot of our NAPA Auto Care people because I love this process of trying to take something and be the best with something so new. It’s like pulling your car into an AutoCare Center, you have a dash light blinking and technicians can attack that problem, and they don’t just snap their fingers and fix it. It’s a process, especially with today’s cars, as they try to figure out what the problem is. I love watching my NAPA Auto Care guys do the same thing. The car didn’t go down the track in the first run and to watch how many hours they put in trying to figure things out, it was really impressive.”
As Capps lined up against No. 6 qualifier Alexander, hopes were high as he has defeated Alexander seven out of the eight times they’ve faced each other in the first round of eliminations. Despite getting the starting line advantage, Capps ultimately came up short. Both cars lost traction early in the race resulting in a bit of a pedal fest to the stripe, but Alexander was able to get there first.
“There’s an upside and a downside to bringing a new chassis out at a race. It’s a gutsy move. But a couple of races down the road, I know that we are going to be much better because of it. And that’s also part of me having the utmost confidence in Guido and our NAPA Auto Care team. We didn’t qualify in the top half of the field, so we didn’t have lane choice. As we sat in the staging lanes, seeing dragsters winning only in the left lane made me pretty nervous and sure enough we got put in the right lane. That’s part of not qualifying in the top half. We still felt like we could beat them and that’s the confidence we had going up there. But it just wouldn’t hold, and we lost traction. I feel like I could have done a better job pedaling it. I should win those races, but we didn’t. But I feel like we’re going to have a great car for Vegas.”
Capps is currently fifth in the NHRA Mission Foods Drag Racing Series points as he heads to the next stop on the tour, the NHRA Four-Wide Nationals at The Strip at Las Vegas Motor Speedway, April 12-14, where he is a six time winner at the facility.
Start / Finish: No. 11 / def. in first round
Points Standing / Total: No. 5 / 170 pts.
Next Race: April 12 – 14, Las Vegas, NHRA Four-Wide Nationals
How to Watch or Listen: FS1,
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By Advance Auto Parts
Advance Auto Parts Appoints Three New Independent Directors
03/11/2024 Enters into Cooperation Agreement with Third Point LLC and Saddle Point Management L.P.
RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, today announced that it has appointed A. Brent Windom, Gregory L. Smith and Thomas W. Seboldt as independent directors to the Advance Auto Parts board, effective immediately. In connection with these appointments, the company has entered into a cooperation agreement with Third Point LLC (together with its affiliates, “Third Point”) and Saddle Point Management, L.P. (together with its affiliates, “Saddle Point”).
“We are pleased to welcome Brent, Greg and Tom to the Advance Auto Parts board,” said Gene Lee, independent chair of the board of directors. “These directors’ automotive industry and supply chain experience will help us progress in our plan to return the company to profitable growth. With new management in place, important strategic actions underway, and an enhanced board, we are confident that Advance is on the right path to create significant long-term value for shareholders.”
“At Advance, our board prioritizes ongoing refreshment to help ensure we have the right expertise and experience to oversee our strategy while profitably growing our business,” said Shane O'Kelly, president and chief executive officer. “As we continue our operational initiatives focusing on the fundamentals, improving our competitive position, and serving our customers better than anyone else, including through the consolidation of our supply chain to a single unified network, we look forward to benefiting from our new directors’ extensive industry relationships and experience.”
“These three directors bring essential operational experience and industry expertise to support Shane as he executes on an ambitious agenda,” said Daniel S. Loeb, chief executive officer of Third Point. “With fresh perspectives in the C-suite and board room and a long runway for growth, we believe Advance is well positioned to create meaningful value for shareholders.”
“Advance has enormous potential to deliver better results for customers, suppliers, team members, and shareholders. The company's collaborative and focused approach is a key enabling factor for success," said Roy J. Katzovicz, chief executive officer of Saddle Point Management, L.P.
The full cooperation agreement, which contains customary standstill, voting and other provisions, will be filed by the company with the U.S. Securities and Exchange Commission as an exhibit to a Current Report on Form 8-K. Additionally, Legion Partners Holdings, LLC (together with its affiliates, “Legion”), another Advance Auto Parts shareholder, has indicated its support for the additions of Mr. Windom, Mr. Smith and Mr. Seboldt to the company’s board of directors.
With the appointments announced today, the company’s board will temporarily expand to 12 directors. At the 2024 annual meeting scheduled for May 22, 2024, 11 director nominees are expected to stand for election to the Advance Auto Parts board, including the three newly appointed directors.
Advisors
Centerview Partners LLC is acting as financial advisor to Advance Auto Parts and Hogan Lovells US LLP is acting as legal counsel. Willkie Farr & Gallagher LLP is acting as legal counsel to Third Point and Saddle Point, and Proskauer Rose LLP is acting as legal counsel to Saddle Point.
About A. Brent Windom
Brent Windom, 63, is an experienced automotive industry executive, having spent nearly four decades working in roles across the sector. Most recently, Mr. Windom served as President and Chief Executive Officer of Uni-Select Inc., a leading automotive refinish, industrial coatings and automotive aftermarket parts distributor. Previously, Mr. Windom was President and COO of Canadian Automotive Group from July 2017 to May 2019, as well as president and Chief Executive Officer of Auto Plus ǀ Pep Boys, which was formed following Icahn Enterprises L.P.’s acquisition of Uni-Select USA, Inc. and Beck/Arnley Worldparts, Inc. Prior to joining IEH Auto Parts, Mr. Windom spent 10 years with Uni-Select, where he held positions of increasing responsibility including President and Chief Operating Officer, Uni-Select USA.
About Gregory L. Smith
Gregory L. Smith, 60, is a proven supply chain expert with nearly 30 years of experience across a variety of industries. Mr. Smith currently serves as Executive Vice President, Global Operation and Supply Chain of Medtronic plc. Prior to joining Medtronic in 2021, Mr. Smith was Executive Vice President, Supply Chain of Walmart Inc. from 2017 to 2021 and Senior Vice President, Global Operations of The Goodyear Tire and Rubber Company from 2011 to 2016. Earlier in his career, Mr. Smith spent a decade with Conagra Foods, Inc., where he served in several leadership positions, including Executive Vice President, Supply Chain. He previously held roles with United Signature Foods LLC and Aurora Foods Inc.
About Thomas W. Seboldt
Thomas W. Seboldt, 57, is a seasoned automotive executive with over three decades of industry experience. Mr. Seboldt spent the vast majority of his career with O’Reilly Automotive, Inc., where he held several titles of increasing responsibility, including Vice President, Merchandising. Mr. Seboldt has also served on the Board of prominent industry associations including the California Automotive Wholesalers' Association (“CAWA”) and the Auto Care Association. During his tenure on the CAWA Board, Mr. Seboldt has served in a variety of positions, including as President, Vice President, Executive Committee member and Treasurer.
About Advance Auto Parts
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of December 30, 2023, Advance operated 4,786 stores and 321 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,245 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at
link hidden, please login to view. Forward-Looking Statements
Certain statements herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “likely,” “may,” “plan,” “position,” “possible,” “potential,” “probable,” “project,” “should,” “strategy,” “will,” or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about our strategic initiatives, operational plans and objectives, corporate governance, board performance, director nominees at the 2024 annual meeting of stockholders, expectations for economic conditions, future business results and future financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect our views based on historical results, current information and assumptions related to future developments. Except as may be required by law, the company undertakes no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, factors related to the company’s leadership transition, the timing and implementation of our initiatives, our potential divestiture of Worldpac and the company's Canada business, our ability to hire, train and retain qualified employees, deterioration of general macroeconomic conditions, the highly competitive nature of our industry, demand for our products and services, complexities in our inventory and supply chain and challenges with transforming and growing our business. Please refer to “Item 1A. Risk Factors” of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as updated by our subsequent filings with the SEC, for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements.
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