Carlyle Group Acquires Worldpac from Advance Auto Parts for $1.5 Billion

The sale aims to streamline Advance Auto Parts' operations amid financial challenges and shareholder pressure.

Worldpac, a wholesale distributor, generated $2.1 billion in revenue over the past year.
Advance Auto Parts' shares fell sharply after the announcement and a lowered annual forecast.
The deal is expected to close by the end of the year.
Carlyle Group sees potential in Worldpac due to the aging vehicle market.
Advance Auto Parts plans to focus on improving sales and productivity of its remaining business.