Reuters is reporting that Advance Auto Parts will acquire General Parts International for USD 2 billion. This is another deal of the week that could have been a PE win but was not. The PE angle was reported by several media sources, including bizjournals, last year.
The deal will make Advance Auto Parts Inc. into one of North America’s largest aftermarket auto-parts providers, says Reuters. There is reportedly a surge of retail M&A. According to the reports USD 28.2 billion of US retail merger deals have been done this year, which is double the USD 12.8 billion total in the same period last year and the largest year-to-date tally since 2006, based on data from Dealogic.