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Advance Auto Parts to Acquire General Parts International for $2.04B

General Parts International Inc. (GPI), distributor and supplier of original equipment and aftermarket replacement parts for commercial markets operating under the CARQUEST and WORLDPAC brands, has agreed to be acquired by Advance Auto Parts Inc. (NYSE: AAP) for $2.04 billion.

The transaction creates an automotive aftermarket parts provider with annual sales of more than $9.2 billion and more than 70,000 employees.

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