Carquest

Carquest Auto Parts
Subsidiary
Industry Aftermarket Auto parts wholesale/retail
Founded 1974
Founders
  • O. Temple Sloan Jr.
  • Dan Bock
  • Joe Hughes[1]
Headquarters Raleigh, North Carolina,
United States
Area served
 United States, Canada
Key people
  • David McCartney, President-NA
  • Steve Gushie, President-CA
Products OE auto parts, automotive finishes, tools & equipment, professional training, business management
Parent Advance Auto Parts
(2014–present)
Subsidiaries Carquest Canada
Website

www.carquest.com United States

www.carquest.ca Canada

Carquest Auto Parts is an American automotive parts distribution network that is currently owned and operated by Advance Auto Parts via independent retailers associated with the network. As of October 4, 2014 Advance operated 5,305 stores, 109 Worldpac branches, and served approximately 1,350 independently-owned Carquest branded stores in 49 states, Puerto Rico, the Virgin Islands and Canada. Advance Auto Parts and CARQUEST Auto Parts employs approximately 75,000 Team Members.[2]

History

The CarQuest marketing alliance and distribution network was formed in 1974 by O. Temple Sloan of General Parts, Dan Bock of Bobro Products, and Joe Hughes of Indiana Parts Warehouse.[1][3][4] In response to competition from high-volume retail stores, Sloan believed "that programmed distribution through a cooperative alliance would be the most effective means to remain competitive." According to a 1994 Bangor Daily News article, "CARQUEST is made up of 14 distributing companies operating 64 CARQUEST Auto Parts Stores throughout the United States" at that time.[1]

General Parts was the largest member with General Parts owning 1,400 out of CarQuest’s 3,400 auto parts stores across North America by 2011.[5] O. Temple Sloan Jr. started General Parts in 1961.

Founding member Bobro was later sold to White Plains Automotive in 1984 and renamed B.W.P. Distributors. BWP was later acquired by Advance Auto in 2012. Dan Bock later served as president of Carquest.

Founding member Indiana Parts Warehouse was acquired by the third founder General Parts in 1991.[6] Indiana Parts had served 90 locations.

Carquest acquired Worldpac in 2004, but kept its operations separate.[7]

General Parts received $258 million in 2011 for selling 33 of the company’s distribution centers and office buildings in a long-term sale-leaseback deal.[5]

In June 2012, Carquest Auto Parts relaunched its Carquest.com Web site, offering buy online, pick up in store commerce.

In December 2012, Advance Auto Parts acquired warehouse distributor B.W.P. Distributors, which supplied the Northeast.[8] On October 16, 2013 it was announced that CARQUEST will be acquired by Advance Auto Parts, Inc in an all-cash transaction estimated at $2.04 Billion dollars.[9] The deal was finalized on January 3, 2014.[10][11]

Stores

A store in Hillsboro, Oregon

There are over 2,800 Carquest Auto Parts stores in North America[12][13] and one location in Northern Mariana Islands.

Carquest Canada has 200 stores in eastern Canada with supplied by distribution centers in Toronto, Montreal, and Saint John, New Brunswick.

WorldPac

WorldPac was formed in 1995 by the merger of WorldWide Trading Corp. (WWTC) and Imported Parts and Accessories (IMPAC).[14] WorldPac specializes in providing hard to find aftermarket parts for imported vehicles.

WorldPac was acquired by Carquest in 2004[7] and by Advance Auto Parts on January 2, 2014 when General Parts International was merged into Advance.

Sponsorships

CARQUEST is title right sponsor of the CARQUEST Auto Parts NHRA Nationals at Wild Horse Pass Motorsports Park near Phoenix, Arizona. The event takes place annually in February and airs on FOX Sports 1.

CARQUEST was a partner with Barrett-Jackson and their auctions until 2014.

Carquest was the official auto parts supplier of Hendrick Motorsports until the end of the 2011 season. Kellogg's and Carquest announced on May 26, 2006 a unique three-year agreement with Hendrick Motorsports that secures the two companies as co-primary sponsors of the No. 5 Chevrolets driven by Kyle Busch in the NASCAR Sprint Cup Series.

On September 9, 2007, the two companies announced Casey Mears will drive the No. 5 Kellogg's/Carquest Chevrolets for Hendrick Motorsports in the 2008 NASCAR Sprint Cup Series, joining a team that secured its second consecutive Chase appearance Sunday, September 2, 2007 at California Speedway.

In 2008, Hendrick Motorsports announced that Mark Martin, a seasoned veteran would be driving the car in 2009. Carquest has continued to sponsor Mark Martin in 2010 and 2011. Carquest Auto Parts has primary sponsor placement in eight points races on the No. 5 Chevy driven by Mark Martin during the 2011 NASCAR Sprint Cup season.

Carquest Auto Parts joined Hendrick Motorsports in 2002 as an associate sponsor of Chevrolets driven by Ricky Hendrick in the NASCAR Busch Series. The relationship carried over to the following season, resulting in a NASCAR Busch Series championship with driver Brian Vickers, and has since transitioned into the NASCAR Sprint Cup Series.

The company sponsored the Carquest Bowl (now Russell Athletic Bowl) from 1994–1997, 3-time IHRA Drag Racing Top Fuel Champion Paul Romine from 1997–2004 and from 2001-2004 was associated with the No. 2 Team ASE NASCAR Craftsman Truck driven by Scott Riggs and Jason Leffler. It also sponsored NHRA drag races from 2003 - 2007.

References

  1. 1 2 3 "Carquest Strives To Help Its Many Jobbers To Be Successful". Bangor Daily News. April 15, 1994. p. W17.
  2. ↑ http://phx.corporate-ir.net/phoenix.zhtml?c=130560&p=irol-irhome
  3. ↑ McCoy, Gary (May 2007). "Death of the blacksmith, birth of the aftermarket". Aftermarket Business. pp. S8–S10,S12,S14,S16. |section= ignored (help) Link via ProQuest.
  4. ↑ "CARQUEST Corporation History". FundingUniverse.
  5. 1 2 Hoyle, Amanda Jones (January 7, 2011). "General Parts gets $258M in deal". Triangle Business Journals.
  6. ↑ "Two Carquest companies merge; courses set. (Carquest Corp.; General Parts Inc. and Indiana Parts Warehouse Co.)". Aftermarket Business. June 1, 1991.
  7. 1 2 Moore, Bob (December 1, 2004). "Staid CARQUEST makes bold acquisition". Aftermarket Business.
  8. ↑ "Advance Auto Parts Announces Acquisition Of BWP Distributors". AftermarketNews. December 19, 2012.
  9. ↑ "Advance Auto Parts to Acquire General Parts International, Inc. in All-Cash Transaction with Enterprise Value of $2.04 Billion" (Press release). October 16, 2013.
  10. ↑ Jaisinghani, Sagarika (October 16, 2013). "Advance Auto expands repair shop business with $2 billion buy". Reuters.
  11. ↑ Snipes, Cameron (December 16, 2013). "Year in Review: Sloan sells Raleigh's General Parts for $2 billion". Triangle Business Journals.
  12. ↑ Wilson, Bill (2007-08-07). "Carquest expanding in Wichita" (excerpt). Wichita Eagle. Retrieved 2008-06-26. Carquest is expanding its 3000-store base nationwide...
  13. ↑ Sangimino, Pat (2007-12-21). "Carquest opens two Wichita locations, takes aim at commercial repair market". Wichita Business Journal. p. 2. Retrieved 2008-06-26.
  14. ↑ "WorldPac Becomes 1st Supply Partner to Join MyRepairShop's Network". Auto Channel. 30 October 2000.

External links

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